Avidian Wealth Enterprises LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

Avidian Wealth Enterprises LLC raised its stake in RTX Co. (NYSE:RTX) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,893 shares of the company’s stock after buying an additional 572 shares during the period. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new stake in RTX during the second quarter worth $30,837,000. O Shaughnessy Asset Management LLC increased its holdings in 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 acquiring an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after acquiring an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new position in RTX in the 2nd quarter valued at about $602,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $118.97 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $158.35 billion, a PE ratio of 33.99, a P/E/G ratio of 2.09 and a beta of 0.82. The company’s fifty day simple moving average is $122.11 and its 200-day simple moving average is $112.42. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s dividend payout ratio 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.