RTX Co. (NYSE:RTX) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in shares of RTX Co. (NYSE:RTX) by 38.5% during the 3rd quarter, Holdings Channel reports. The firm owned 49,916 shares of the company’s stock after buying an additional 13,868 shares during the period. Independent Advisor Alliance’s holdings in RTX were worth $6,048,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the third quarter worth $29,000. Briaud Financial Planning Inc grew its stake 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 purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in RTX during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter worth about $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RTX shares. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Eight equities research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.27.

RTX Price Performance

Shares of NYSE RTX opened at $120.77 on Monday. The stock has a market cap of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.14 and a beta of 0.82. RTX Co. has a twelve month low of $79.13 and a twelve month high of $128.70. The stock has a 50 day moving average of $122.17 and a two-hundred day moving average of $114.17. 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 (NYSE:RTX) last released 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 firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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