RTX Co. (NYSE:RTX) Shares Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE increased its stake in RTX Co. (NYSE:RTX) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,796 shares of the company’s stock after buying an additional 939 shares during the quarter. RTX comprises 1.4% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 22nd largest position. Smithbridge Asset Management Inc. DE’s holdings in RTX were worth $8,093,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter valued at about $30,837,000. Capital Advisors Ltd. LLC increased its position in shares of RTX by 7.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Cetera Investment Advisers grew its position in RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after buying an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new stake in RTX during the 2nd quarter worth about $602,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RTX. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Susquehanna upped their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $175.27.

RTX Trading Down 0.2 %

Shares of RTX stock opened at $124.85 on Monday. The stock’s fifty day simple moving average is $121.74 and its 200 day simple moving average is $111.42. The firm has a market capitalization of $166.18 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last announced its 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. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.57 EPS 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 dividend of $0.63 per share. 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 2.02%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

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.