Meridian Wealth Management LLC Takes $7.75 Million Position in RTX Co. (NYSE:RTX)

Meridian Wealth Management LLC acquired a new stake in RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 64,005 shares of the company’s stock, valued at approximately $7,754,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Elgethun Capital Management lifted its position in RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its stake in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC grew its stake in RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares during the last quarter. Canal Capital Management LLC grew its stake in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after buying an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its stake in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent research reports. UBS Group upped their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Susquehanna upped their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Nine 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Up 0.1 %

Shares of RTX stock opened at $120.69 on Friday. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70. The firm has a market cap of $160.64 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The stock has a 50 day moving average of $122.13 and a 200-day moving average of $113.89. 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 issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during 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%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, equities analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend 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.