Johnson Financial Group Inc. Has $1.80 Million Stake in RTX Corporation $RTX

Johnson Financial Group Inc. lifted its position in RTX Corporation (NYSE:RTX) by 122.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,309 shares of the company’s stock after buying an additional 5,118 shares during the quarter. Johnson Financial Group Inc.’s holdings in RTX were worth $1,796,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in RTX by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock valued at $22,922,464,000 after acquiring an additional 2,210,950 shares during the last quarter. State Street Corp grew its position in RTX by 0.7% in the fourth quarter. State Street Corp now owns 91,884,588 shares of the company’s stock worth $16,851,633,000 after acquiring an additional 630,558 shares in the last quarter. Morgan Stanley increased its stake in shares of RTX by 0.4% during the 4th quarter. Morgan Stanley now owns 29,783,584 shares of the company’s stock worth $5,462,310,000 after purchasing an additional 105,069 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of RTX by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 21,800,188 shares of the company’s stock valued at $3,998,155,000 after purchasing an additional 625,994 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RTX in the 4th quarter valued at $3,167,626,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RTX shares. Dbs Bank upgraded shares of RTX from a “hold” rating to a “moderate buy” rating in a report on Wednesday, June 10th. Wells Fargo & Company started coverage on RTX in a report on Wednesday, April 1st. They set an “equal weight” rating and a $200.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of RTX in a research report on Wednesday, June 17th. Weiss Ratings lowered RTX from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, UBS Group cut their price objective on RTX from $209.00 to $199.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.38.

RTX Price Performance

NYSE RTX opened at $193.63 on Wednesday. RTX Corporation has a 1 year low of $143.56 and a 1 year high of $214.50. The company has a fifty day simple moving average of $185.24 and a 200 day simple moving average of $191.81. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48. The company has a market cap of $260.76 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 0.30.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.52 by $0.26. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $21.38 billion. RTX had a net margin of 8.03% and a return on equity of 13.50%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. On average, sell-side analysts predict that RTX Corporation will post 6.92 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. RTX’s dividend payout ratio (DPR) is currently 54.78%.

About RTX

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.