240 Shares in RTX Co. (NYSE:RTX) Purchased by MidAtlantic Capital Management Inc.

MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 240 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. purchased a new position in shares of RTX in the 1st quarter worth $325,000. Bessemer Group Inc. increased its stake in RTX by 1.4% during the first quarter. Bessemer Group Inc. now owns 86,243 shares of the company’s stock worth $8,412,000 after acquiring an additional 1,225 shares during the last quarter. Lake Street Advisors Group LLC raised its position in RTX by 59.2% during the first quarter. Lake Street Advisors Group LLC now owns 10,624 shares of the company’s stock valued at $1,036,000 after purchasing an additional 3,951 shares during the period. Twin Capital Management Inc. lifted its stake in shares of RTX by 99.1% in the 1st quarter. Twin Capital Management Inc. now owns 9,869 shares of the company’s stock valued at $963,000 after purchasing an additional 4,912 shares during the last quarter. Finally, Vaughan David Investments LLC IL purchased a new position in shares of RTX in the 1st quarter worth approximately $210,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE:RTX opened at $119.40 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The firm has a 50 day moving average of $122.16 and a 200 day moving average of $113.68. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.11%. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RTX shares. 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 research report on Monday, July 29th. Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $177.27.

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.