AM Investment Strategies LLC Purchases Shares of 1,841 RTX Co. (NYSE:RTX)

AM Investment Strategies LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,841 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of RTX by 13.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 393,854 shares of the company’s stock valued at $38,413,000 after acquiring an additional 46,541 shares in the last quarter. PDS Planning Inc boosted its position in shares of RTX by 5.1% in the first quarter. PDS Planning Inc now owns 4,451 shares of the company’s stock worth $434,000 after buying an additional 217 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of RTX by 7.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,952 shares of the company’s stock valued at $3,506,000 after buying an additional 2,515 shares in the last quarter. BNP Paribas purchased a new stake in shares of RTX during the 1st quarter valued at about $4,249,000. Finally, St. Louis Trust Co lifted its position in RTX by 26.9% during the 1st quarter. St. Louis Trust Co now owns 10,149 shares of the company’s stock worth $990,000 after acquiring an additional 2,153 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX stock traded down $2.24 during midday trading on Friday, reaching $118.75. 5,235,060 shares of the stock traded hands, compared to its average volume of 4,109,141. The firm has a fifty day moving average price of $122.13 and a two-hundred day moving average price of $112.02. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm has a market cap of $158.06 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. 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 announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.12%. RTX’s payout ratio is 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.