Verdence Capital Advisors LLC Has $6.85 Million Stock Position in RTX Corporation $RTX

Verdence Capital Advisors LLC lifted its stake in shares of RTX Corporation (NYSE:RTX) by 13.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,211 shares of the company’s stock after purchasing an additional 4,667 shares during the quarter. Verdence Capital Advisors LLC’s holdings in RTX were worth $6,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of RTX by 1.9% during the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock worth $17,825,353,000 after purchasing an additional 2,238,247 shares during the last quarter. State Street Corp lifted its holdings in shares of RTX by 0.5% during the second quarter. State Street Corp now owns 112,706,833 shares of the company’s stock worth $16,457,452,000 after purchasing an additional 552,009 shares during the period. Fisher Asset Management LLC grew its stake in shares of RTX by 4.2% in the second quarter. Fisher Asset Management LLC now owns 20,599,190 shares of the company’s stock worth $3,007,894,000 after purchasing an additional 837,268 shares during the last quarter. Norges Bank acquired a new stake in RTX in the second quarter valued at $2,359,602,000. Finally, Massachusetts Financial Services Co. MA raised its position in RTX by 9.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after purchasing an additional 1,361,071 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 1.2%

RTX stock opened at $202.13 on Tuesday. The stock’s 50 day moving average is $180.85 and its 200-day moving average is $167.49. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $202.17. The firm has a market capitalization of $271.01 billion, a PE ratio of 41.51, a P/E/G ratio of 2.92 and a beta of 0.44. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.During the same period last year, the business earned $1.45 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, November 21st. This represents a $2.72 annualized dividend and a yield of 1.3%. RTX’s payout ratio is 55.85%.

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total value of $873,547.35. Following the completion of the sale, the executive vice president owned 59,556 shares in the company, valued at approximately $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RTX. Bank of America increased their price target on RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Sanford C. Bernstein reissued a “market perform” rating and set a $189.00 target price on shares of RTX in a research note on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on RTX from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Morgan Stanley set a $215.00 price target on RTX and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Citigroup lifted their price objective on shares of RTX from $211.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.88.

RTX Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.