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

Tradition Wealth Management LLC grew its position in shares of RTX Co. (NYSE:RTX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,071 shares of the company’s stock after buying an additional 91 shares during the quarter. Tradition Wealth Management LLC’s holdings in RTX were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in RTX in the 2nd quarter worth about $72,000. Quent Capital LLC raised its holdings in shares of RTX by 3.8% during the second quarter. Quent Capital LLC now owns 2,862 shares of the company’s stock valued at $287,000 after purchasing an additional 105 shares during the last quarter. Mather Group LLC. lifted its position in RTX by 47.0% during the second quarter. Mather Group LLC. now owns 17,521 shares of the company’s stock valued at $1,709,000 after purchasing an additional 5,598 shares during the period. Lynx Investment Advisory purchased a new stake in RTX in the second quarter worth approximately $26,000. Finally, Sage Capital Advisors llc grew its position in RTX by 0.7% in the 2nd quarter. Sage Capital Advisors llc now owns 90,631 shares of the company’s stock worth $9,098,000 after purchasing an additional 613 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $121.83 on Monday. The firm’s fifty day moving average is $122.34 and its two-hundred day moving average is $114.61. RTX Co. has a 52-week low of $79.67 and a 52-week high of $128.70. The company has a market cap of $162.16 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.16 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 (NYSE:RTX) last announced 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 return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.07%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. UBS Group upped 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. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. 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, RTX has an average rating of “Moderate Buy” and an average price target 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.