Pittenger & Anderson Inc. Purchases 125 Shares of RTX Co. (NYSE:RTX)

Pittenger & Anderson Inc. boosted its holdings in shares of RTX Co. (NYSE:RTX) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,232 shares of the company’s stock after buying an additional 125 shares during the quarter. Pittenger & Anderson Inc.’s holdings in RTX were worth $5,480,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its stake in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors increased its stake in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Legal & General Group Plc raised its stake in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Susquehanna boosted their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Barclays raised their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

RTX opened at $118.41 on Tuesday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm has a 50-day moving average of $122.13 and a 200 day moving average of $112.17. The firm has a market cap of $157.61 billion, a P/E ratio of 33.71, a PEG ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 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.