Tidal Investments LLC raised its position in shares of RTX Co. (NYSE:RTX – Free Report) by 22.3% in the third quarter, HoldingsChannel reports. The fund owned 31,671 shares of the company’s stock after acquiring an additional 5,767 shares during the period. Tidal Investments LLC’s holdings in RTX were worth $3,837,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Lantz Financial LLC increased its position in RTX by 8.0% during the 2nd quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock worth $277,000 after buying an additional 204 shares during the period. TCW Group Inc. increased its position in RTX by 4.0% during the second quarter. TCW Group Inc. now owns 18,591 shares of the company’s stock worth $1,866,000 after acquiring an additional 711 shares during the period. Means Investment CO. Inc. increased its position in RTX by 6.6% during the second quarter. Means Investment CO. Inc. now owns 15,387 shares of the company’s stock worth $1,545,000 after acquiring an additional 947 shares during the period. Apollon Wealth Management LLC raised its stake in RTX by 6.6% in the 2nd quarter. Apollon Wealth Management LLC now owns 56,266 shares of the company’s stock worth $5,649,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Milestone Asset Management LLC acquired a new position in shares of RTX during the 2nd quarter worth approximately $477,000. Institutional investors and hedge funds own 86.50% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $177.27.
RTX Stock Up 1.5 %
Shares of RTX opened at $117.75 on Friday. The stock has a market capitalization of $156.73 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.08 and a beta of 0.80. RTX Co. has a 52 week low of $79.67 and a 52 week high of $128.70. 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 stock has a fifty day moving average of $121.49 and a 200-day moving average of $115.48.
RTX (NYSE:RTX – Get Free Report) last announced its quarterly 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. 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 analyst estimates of $19.84 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.
RTX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio (DPR) 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.
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