RTX Co. (NYSE:RTX) Stake Raised by Chesapeake Wealth Management

Chesapeake Wealth Management increased its holdings in RTX Co. (NYSE:RTX) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,126 shares of the company’s stock after buying an additional 979 shares during the quarter. Chesapeake Wealth Management’s holdings in RTX were worth $1,227,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the second quarter valued at about $30,837,000. Mirae Asset Global Investments Co. Ltd. increased its stake in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares during the period. Napa Wealth Management bought a new stake in shares of RTX during the 3rd quarter worth about $1,307,000. Kennebec Savings Bank bought a new position in shares of RTX in the third quarter valued at approximately $953,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after acquiring an additional 97,749 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Nine equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Performance

Shares of RTX opened at $119.40 on Tuesday. The firm has a fifty day simple moving average of $122.16 and a 200 day simple moving average of $113.68. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. 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 stock has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend 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.