Kingsview Wealth Management LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Kingsview Wealth Management LLC grew its holdings in RTX Co. (NYSE:RTX) by 79.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,732 shares of the company’s stock after acquiring an additional 21,953 shares during the period. Kingsview Wealth Management LLC’s holdings in RTX were worth $6,026,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the 3rd quarter valued at $29,000. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in shares of RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the 2nd quarter valued at $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $120.77 on Friday. The firm has a market cap 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 current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $79.13 and a 1-year high of $128.70. The firm has a fifty day moving average of $122.17 and a two-hundred day moving average of $114.09.

RTX (NYSE:RTX) last posted its quarterly earnings results 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 period in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price 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.