Oppenheimer Asset Management Inc. Raises Stock Position in RTX Co. (NYSE:RTX)

Oppenheimer Asset Management Inc. lifted its stake in RTX Co. (NYSE:RTX) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 729,909 shares of the company’s stock after buying an additional 66,591 shares during the period. RTX makes up 1.1% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 12th largest holding. Oppenheimer Asset Management Inc.’s holdings in RTX were worth $88,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RTX in the first quarter valued at approximately $730,000. D Orazio & Associates Inc. acquired a new stake in RTX during the 1st quarter worth $244,000. TBH Global Asset Management LLC grew its position in RTX by 12.7% during the 1st quarter. TBH Global Asset Management LLC now owns 15,912 shares of the company’s stock worth $1,552,000 after purchasing an additional 1,793 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in RTX by 1.6% in the first quarter. Kingsview Wealth Management LLC now owns 26,354 shares of the company’s stock valued at $2,570,000 after purchasing an additional 416 shares during the period. Finally, HBK Sorce Advisory LLC raised its holdings in shares of RTX by 4.8% in the first quarter. HBK Sorce Advisory LLC now owns 49,395 shares of the company’s stock valued at $4,817,000 after buying an additional 2,281 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Alembic Global Advisors upgraded 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. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

NYSE RTX traded down $0.02 during trading hours on Wednesday, reaching $123.35. The company’s stock had a trading volume of 146,004 shares, compared to its average volume of 6,658,710. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company’s 50-day moving average is $122.16 and its two-hundred day moving average is $113.17. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The stock has a market cap of $164.18 billion, a PE ratio of 35.25, a PEG ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

About RTX

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.