BNP Paribas Has $4.46 Million Stake in RTX Co. (NYSE:RTX)

BNP Paribas lowered its stake in shares of RTX Co. (NYSE:RTX) by 33.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 36,211 shares of the company’s stock after selling 18,125 shares during the period. BNP Paribas’ holdings in RTX were worth $4,462,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. Legal & General Group Plc increased its position in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares during the period. Ameriprise Financial Inc. raised its stake in shares of RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares during the period. Finally, FMR LLC boosted its stake in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Price Performance

Shares of RTX stock opened at $120.62 on Wednesday. The stock’s fifty day moving average is $122.16 and its 200-day moving average is $114.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70. The stock has a market capitalization of $160.55 billion, a PE ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company posted $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 72.00%.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.