Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in RTX Co. (NYSE:RTX)

Mirae Asset Global Investments Co. Ltd. raised its stake in RTX Co. (NYSE:RTX) by 73.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,867 shares of the company’s stock after purchasing an additional 57,873 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in RTX were worth $15,965,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CX Institutional raised its holdings in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC boosted its stake in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares in the last quarter. Napa Wealth Management acquired a new stake in shares of RTX in the 3rd quarter worth approximately $1,307,000. Czech National Bank raised its holdings in RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in RTX during the fourth quarter worth $8,387,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $129.12 on Thursday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The company’s 50 day simple moving average is $119.70 and its 200 day simple moving average is $119.83. The stock has a market capitalization of $171.86 billion, a PE ratio of 36.37, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.12 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RTX shares. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Company Profile

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.