Davis R M Inc. Increases Stake in RTX Co. (NYSE:RTX)

Davis R M Inc. raised its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,111 shares of the company’s stock after purchasing an additional 1,418 shares during the quarter. Davis R M Inc.’s holdings in RTX were worth $47,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter worth approximately $29,000. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the second quarter valued at $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX in the third quarter valued at $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.2 %

Shares of NYSE RTX opened at $120.77 on Monday. RTX Co. has a one year low of $79.13 and a one year high of $128.70. The stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a PEG ratio of 2.14 and a beta of 0.82. The firm’s 50 day simple moving average is $122.17 and its two-hundred day simple moving average is $114.17. 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 (NYSE:RTXGet Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping 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 the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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 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 (DPR) is currently 72.00%.

Analyst Ratings Changes

Several research analysts have commented on RTX shares. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

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About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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