IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.76 Million Holdings in RTX Co. (NYSE:RTX)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in RTX Co. (NYSE:RTX) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,754 shares of the company’s stock after buying an additional 2,328 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in RTX were worth $2,757,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors grew its stake in RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc raised its stake in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after acquiring an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company lowered their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Price Performance

Shares of RTX opened at $126.20 on Thursday. The stock has a market cap of $167.88 billion, a P/E ratio of 72.95, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a 1 year low of $72.48 and a 1 year high of $126.82. The stock’s 50-day moving average price is $120.50 and its two-hundred day moving average price is $110.07. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, equities analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 145.67%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

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.