Meeder Advisory Services Inc. Has $3.53 Million Position in RTX Corporation (NYSE:RTX)

Meeder Advisory Services Inc. raised its stake in RTX Corporation (NYSE:RTX) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,637 shares of the company’s stock after acquiring an additional 1,748 shares during the period. Meeder Advisory Services Inc.’s holdings in RTX were worth $3,528,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bay Capital Advisors LLC bought a new stake in shares of RTX during the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC lifted its position in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG lifted its stake in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Brookwood Investment Group LLC bought a new stake in RTX during the first quarter worth $1,288,000. Finally, LBP AM SA lifted its stake in RTX by 17.7% during the first quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after purchasing an additional 41,990 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

NYSE RTX opened at $156.06 on Tuesday. The company has a market capitalization of $208.89 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.89 and a beta of 0.64. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $157.33. The stock has a fifty day simple moving average of $143.86 and a 200 day simple moving average of $133.33. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. Sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.74%. RTX’s payout ratio is currently 59.78%.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. UBS Group upped their target price on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Bank of America upped their target price on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.69.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is currently owned by 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.