Cadence Bank Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Cadence Bank grew its stake in shares of RTX Co. (NYSE:RTX) by 1.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 148,840 shares of the company’s stock after buying an additional 1,992 shares during the quarter. RTX makes up 1.2% of Cadence Bank’s holdings, making the stock its 17th biggest holding. Cadence Bank’s holdings in RTX were worth $18,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Elgethun Capital Management increased its position in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares during the period. Avestar Capital LLC grew its position in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC lifted its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the last quarter. Finally, Canal Capital Management LLC boosted 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 valued at $515,000 after purchasing an additional 87 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Up 1.7 %

RTX stock opened at $120.62 on Wednesday. RTX Co. has a 52 week low of $79.13 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 firm has a market capitalization of $160.55 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a 50 day moving average price of $122.16 and a 200 day moving average price of $114.26.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.09%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Alembic Global Advisors raised 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. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Citigroup upped their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

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.