Wealth Dimensions Group Ltd. Purchases New Holdings in RTX Co. (NYSE:RTX)

Wealth Dimensions Group Ltd. acquired a new position in RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,938 shares of the company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Marshall Wace LLP boosted its holdings in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after buying an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC boosted its stake in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares during the period. abrdn plc increased its stake in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after purchasing an additional 509,261 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of RTX by 498.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 521,793 shares of the company’s stock worth $63,220,000 after purchasing an additional 434,628 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RTX shares. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Alembic Global Advisors raised 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. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

RTX stock opened at $120.77 on Friday. The firm’s 50 day simple moving average is $122.17 and its 200 day simple moving average is $114.09. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1-year low of $79.13 and a 1-year high of $128.70. The firm has a market capitalization of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX’s dividend payout ratio is presently 72.00%.

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.