Himension Capital Singapore PTE. LTD. Buys Shares of 11,528 RTX Corporation $RTX

Himension Capital Singapore PTE. LTD. purchased a new position in shares of RTX Corporation (NYSE:RTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,528 shares of the company’s stock, valued at approximately $2,224,000.

Several other hedge funds and other institutional investors have also modified their holdings of RTX. Meiji Yasuda America Inc purchased a new position in shares of RTX during the first quarter worth $4,939,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of RTX in the 1st quarter valued at $18,014,000. Burling Wealth Partners LLC lifted its stake in RTX by 4.2% during the 1st quarter. Burling Wealth Partners LLC now owns 46,082 shares of the company’s stock worth $8,889,000 after acquiring an additional 1,872 shares in the last quarter. Wilkerson Advisory Group LLC lifted its stake in RTX by 76.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 303 shares of the company’s stock worth $58,000 after acquiring an additional 131 shares in the last quarter. Finally, One Charles Private Wealth Services LLC boosted its holdings in RTX by 1.7% during the 1st quarter. One Charles Private Wealth Services LLC now owns 13,154 shares of the company’s stock valued at $2,537,000 after acquiring an additional 222 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Key RTX News

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 Trading Down 0.4%

RTX opened at $193.63 on Wednesday. The business has a fifty day moving average price of $185.24 and a 200 day moving average price of $191.81. 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 Corporation has a 12 month low of $143.56 and a 12 month high of $214.50. The stock has a market capitalization of $260.76 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.66 and a beta of 0.30.

RTX (NYSE:RTX) last posted its quarterly 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. The company had revenue of $22.08 billion for the quarter, compared to analyst estimates of $21.38 billion. RTX had a return on equity of 13.50% and a net margin of 8.03%.RTX’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. Sell-side analysts expect that RTX Corporation will post 6.92 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several equities analysts have weighed in on RTX shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of RTX in a research report on Wednesday, July 8th. Morgan Stanley reduced their price target on shares of RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Melius Research raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Dbs Bank upgraded shares of RTX from a “hold” rating to a “moderate buy” rating in a report on Wednesday, June 10th. Finally, UBS Group cut their target price on shares of RTX from $209.00 to $199.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.