Associated Banc Corp Purchases 3,137 Shares of RTX Co. (NYSE:RTX)

Associated Banc Corp grew its holdings in shares of RTX Co. (NYSE:RTX) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,791 shares of the company’s stock after buying an additional 3,137 shares during the quarter. RTX makes up 1.3% of Associated Banc Corp’s portfolio, making the stock its 18th largest position. Associated Banc Corp’s holdings in RTX were worth $42,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in shares of RTX during the 2nd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter worth $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.9 %

NYSE RTX traded down $1.08 during mid-day trading on Monday, reaching $119.69. 810,681 shares of the stock were exchanged, compared to its average volume of 6,591,625. The stock has a market cap of $159.31 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a one year low of $79.13 and a one year high of $128.70. The stock has a 50 day simple moving average of $122.17 and a 200-day simple moving average of $114.17.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. 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 payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RTX shares. JPMorgan Chase & Co. boosted their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Morgan Stanley raised their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.