Colonial River Investments LLC Purchases New Shares in RTX Co. (NYSE:RTX)

Colonial River Investments LLC acquired a new position in RTX Co. (NYSE:RTX) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,430 shares of the company’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. GSA Capital Partners LLP purchased a new stake in RTX during the 1st quarter worth approximately $661,000. WNY Asset Management LLC raised its holdings in RTX by 3.9% in the first quarter. WNY Asset Management LLC now owns 3,617 shares of the company’s stock valued at $353,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in RTX by 5.7% during the 1st quarter. Meeder Asset Management Inc. now owns 2,945 shares of the company’s stock valued at $287,000 after acquiring an additional 158 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in RTX by 4.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 16,712 shares of the company’s stock worth $1,630,000 after acquiring an additional 646 shares in the last quarter. Finally, Verus Capital Partners LLC increased its position in shares of RTX by 4.5% in the 1st quarter. Verus Capital Partners LLC now owns 5,247 shares of the company’s stock worth $512,000 after purchasing an additional 224 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 2.9 %

NYSE:RTX opened at $123.55 on Friday. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The business has a fifty day moving average of $122.08 and a 200-day moving average of $112.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market cap of $164.45 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. 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 firm earned $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. Equities analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $177.27.

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.