Meeder Asset Management Inc. Has $3.58 Million Stake in RTX Co. (NYSE:RTX)

Meeder Asset Management Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 3,872.8% during the 3rd quarter, Holdings Channel reports. The firm owned 29,518 shares of the company’s stock after purchasing an additional 28,775 shares during the period. Meeder Asset Management Inc.’s holdings in RTX were worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. bought a new position in RTX during the 3rd quarter worth $29,000. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the second quarter worth about $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX during the third quarter worth about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock opened at $119.40 on Tuesday. The stock has a market cap of $158.92 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company’s fifty day moving average is $122.16 and its 200 day moving average is $113.68.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RTX. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $177.27.

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.