Fifth Third Bancorp Acquires New Stake in RTX Corporation $RTX

Fifth Third Bancorp bought a new stake in shares of RTX Corporation (NYSE:RTX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,120,889 shares of the company’s stock, valued at approximately $208,093,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in RTX in the second quarter worth $20,970,571,000. State Street Corp lifted its holdings in shares of RTX by 3.1% during the 2nd quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after purchasing an additional 2,828,056 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of RTX by 5.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company’s stock valued at $1,649,501,000 after purchasing an additional 411,356 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RTX by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,649,112 shares of the company’s stock valued at $1,475,296,000 after purchasing an additional 95,726 shares during the last quarter. Finally, Amundi boosted its position in shares of RTX by 4.0% in the 2nd quarter. Amundi now owns 7,768,207 shares of the company’s stock worth $1,473,862,000 after purchasing an additional 295,964 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX News Roundup

Here’s some of the latest news about RTX:

• Positive Sentiment: Analyst upgrade: Zacks Research raised RTX from “hold” to “strong buy.” Separate commentary points to rising earnings estimates and growth prospects in defense technology and aerospace services. Zacks analysis
• Positive Sentiment: Cash-flow outlook: A report says RTX expects margin expansion and cash-flow growth in 2027, which could support future earnings and shareholder returns. RTX margin and cash-flow outlook
• Neutral Sentiment: Valuation remains a consideration: RTX has substantially outperformed over the past three years, prompting questions about whether its share price is justified by expected cash flows. The positive growth outlook is balanced by a premium valuation.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RTX shares. Barclays boosted their target price on RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. DA Davidson increased their price target on RTX from $192.00 to $219.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price target on RTX from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Robert W. Baird set a $240.00 price target on RTX in a report on Friday, July 24th. Finally, Susquehanna boosted their price target on RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $231.24.

Insider Transactions at RTX

In other RTX news, EVP Dantaya Williams sold 9,071 shares of RTX stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the sale, the executive vice president owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. The trade was a 34.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 13,655 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total value of $3,057,627.60. Following the sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,952,161.28. The trade was a 50.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

RTX Trading Up 0.5%

NYSE RTX opened at $201.37 on Thursday. The company has a fifty day simple moving average of $192.93 and a two-hundred day simple moving average of $195.57. The stock has a market cap of $271.74 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.22 and a beta of 0.30. RTX Corporation has a 12-month low of $166.74 and a 12-month high of $226.88. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 earnings per share. On average, analysts forecast that RTX Corporation will post 7.73 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. RTX’s payout ratio is currently 47.40%.

RTX Company Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.