Meeder Asset Management Inc. Purchases 3,576 Shares of RTX Corporation $RTX

Meeder Asset Management Inc. raised its position in shares of RTX Corporation (NYSE:RTX) by 668.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,111 shares of the company’s stock after purchasing an additional 3,576 shares during the quarter. Meeder Asset Management Inc.’s holdings in RTX were worth $793,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Navalign LLC bought a new position in shares of RTX during the fourth quarter valued at about $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of RTX in the fourth quarter worth about $26,000. Core Wealth Advisors LLC bought a new stake in shares of RTX in the fourth quarter worth about $31,000. 1 North Wealth Services LLC increased its holdings in RTX by 456.7% during the 4th quarter. 1 North Wealth Services LLC now owns 167 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the period. Finally, Evergreen Advisors LLC purchased a new position in RTX during the 1st quarter valued at about $31,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.6%

RTX stock opened at $194.64 on Tuesday. RTX Corporation has a 1-year low of $143.56 and a 1-year high of $214.50. The business has a fifty day moving average price of $184.95 and a 200-day moving average price of $191.74. The stock has a market capitalization of $262.12 billion, a P/E ratio of 36.52, a P/E/G ratio of 2.65 and a beta of 0.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.26. The business had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $21.38 billion. RTX had a net margin of 8.03% and a return on equity of 13.50%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 EPS. Equities analysts forecast that RTX Corporation will post 6.92 earnings per share for the current fiscal year.

RTX Announces Dividend

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

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Pratt & Whitney won a nine-year, $1 billion sustainment contract to overhaul more than 750 PT6A-68 engines for the U.S. JPATS T-6 trainer fleet, adding to RTX’s long-term defense revenue visibility. Article Title
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines to power up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement, boosting the outlook for RTX’s commercial engines and services backlog. Article Title
• Positive Sentiment: Jackson Square Aviation also chose Pratt & Whitney GTF engines for an undisclosed number of Airbus A320neo jets, reinforcing demand for RTX’s geared-turbofan platform at the Farnborough Airshow. Article Title
• Positive Sentiment: Pratt & Whitney completed successful testing of its 3D-printed TJ150 engine, highlighting manufacturing innovation and potential efficiency gains. Article Title
• Neutral Sentiment: Analysts are reviewing RTX’s Q2 metric projections ahead of earnings, which keeps attention on whether the company can match or exceed expectations. Article Title
• Neutral Sentiment: RTX was mentioned as one of several drone-tech names to watch as adoption rises, but the piece is more sector-focused than a direct company-specific catalyst. Article Title
• Positive Sentiment: RTX also picked up additional attention from Boeing/Airbus Farnborough deal activity, which underscores a healthy commercial aerospace backdrop for its engine business. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen cut RTX from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 26th. Weiss Ratings cut shares of RTX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RTX in a research note on Wednesday, July 8th. Wells Fargo & Company started coverage on shares of RTX in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 price target for the company. Finally, Melius Research upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.38.

RTX Profile

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.