Financial Council LLC Buys New Holdings in RTX Co. (NYSE:RTX)

Financial Council LLC purchased a new position in RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,971 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc boosted its holdings 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 acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth approximately $32,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley raised their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Performance

NYSE RTX opened at $120.77 on Friday. The company has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The company has a fifty day moving average of $122.17 and a 200-day moving average of $114.02.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating 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 business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

About RTX

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.