Meiji Yasuda America Inc Invests $4.94 Million in RTX Corporation $RTX

Meiji Yasuda America Inc bought a new position in shares of RTX Corporation (NYSE:RTX) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 25,606 shares of the company’s stock, valued at approximately $4,939,000. RTX comprises 1.2% of Meiji Yasuda America Inc’s holdings, making the stock its 26th biggest position.

Several other institutional investors have also added to or reduced their stakes in RTX. Brighton Jones LLC raised its position in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. United Bank increased its stake in RTX by 68.0% during the 2nd quarter. United Bank now owns 10,202 shares of the company’s stock valued at $1,490,000 after purchasing an additional 4,131 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of RTX by 3.1% in the second quarter. Schnieders Capital Management LLC. now owns 20,900 shares of the company’s stock worth $3,052,000 after buying an additional 623 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of RTX in the second quarter worth $5,157,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Wall Street Zen lowered shares of RTX from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 26th. Citigroup restated a “buy” rating on shares of RTX in a research note on Wednesday, June 17th. Jefferies Financial Group reiterated a “buy” rating on shares of RTX in a research note on Wednesday, July 8th. Morgan Stanley cut their price objective on RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Dbs Bank upgraded RTX from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, June 10th. 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 given a Sell rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.38.

Key Stories Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

RTX Stock Down 0.4%

NYSE:RTX opened at $193.63 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. The company’s fifty day moving average price is $185.24 and its 200-day moving average price is $191.81. RTX Corporation has a 1-year low of $143.56 and a 1-year high of $214.50. The firm has a market capitalization of $260.76 billion, a P/E ratio of 36.33, a PEG ratio of 2.66 and a beta of 0.30.

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 analysts’ consensus estimates of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $21.38 billion. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Corporation will post 6.92 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 14th will be paid a dividend of $0.73 per share. 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 dividend payout ratio (DPR) is presently 54.78%.

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.