Adell Harriman & Carpenter Inc. Grows Holdings in RTX Co. (NYSE:RTX)

Adell Harriman & Carpenter Inc. lifted its holdings in RTX Co. (NYSE:RTX) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,519 shares of the company’s stock after buying an additional 438 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in RTX were worth $7,696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Manning & Napier Advisors LLC purchased a new stake in RTX during the 2nd quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC increased its holdings in RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the period. Cetera Investment Advisers grew its position in shares of RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after acquiring an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. bought a new position in shares of RTX in the second quarter worth about $602,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Ten 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Price Performance

RTX stock opened at $122.79 on Wednesday. RTX Co. has a 52 week low of $77.76 and a 52 week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $121.98 and a two-hundred day simple moving average of $111.75. The firm has a market capitalization of $163.44 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business earned $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

RTX 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.