Cypress Capital Group Buys 489 Shares of RTX Co. (NYSE:RTX)

Cypress Capital Group raised its stake in RTX Co. (NYSE:RTX) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,396 shares of the company’s stock after acquiring an additional 489 shares during the period. Cypress Capital Group’s holdings in RTX were worth $4,652,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Briaud Financial Planning Inc grew its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the 2nd quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at about $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX in the second quarter valued at about $41,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RTX shares. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 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 stock a “neutral” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $119.14 on Thursday. The company has a market cap of $158.58 billion, a P/E ratio of 34.04, a PEG ratio of 2.11 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. The business has a 50-day moving average price of $122.13 and a two-hundred day moving average price of $113.84. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 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.