German American Bancorp Inc. Increases Stake in RTX Co. (NYSE:RTX)

German American Bancorp Inc. grew its position in RTX Co. (NYSE:RTX) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,342 shares of the company’s stock after acquiring an additional 2,255 shares during the period. German American Bancorp Inc.’s holdings in RTX were worth $3,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RTX. Briaud Financial Planning Inc increased its position in 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 purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the third quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $119.14 on Thursday. The firm has a market cap of $158.58 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average is $122.13 and its two-hundred day moving average is $113.84.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm 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 annualized dividend and a yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

Several analysts recently commented on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Susquehanna lifted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.27.

RTX Company Profile

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.