Balentine LLC Makes New $402,000 Investment in RTX Co. (NYSE:RTX)

Balentine LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,314 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds have also made changes to their positions in RTX. MinichMacGregor Wealth Management LLC acquired a new stake in shares of RTX during the 3rd quarter valued at $204,000. Crestwood Advisors Group LLC increased its stake in RTX by 0.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 24,352 shares of the company’s stock worth $2,950,000 after purchasing an additional 106 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in RTX by 3.8% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 22,512 shares of the company’s stock valued at $2,728,000 after buying an additional 833 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in shares of RTX by 0.3% in the third quarter. Pittenger & Anderson Inc. now owns 45,232 shares of the company’s stock worth $5,480,000 after buying an additional 125 shares during the period. Finally, United Advisor Group LLC increased its position in shares of RTX by 11.1% in the third quarter. United Advisor Group LLC now owns 4,452 shares of the company’s stock worth $539,000 after acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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 note on Wednesday, October 23rd. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased 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. Finally, Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Ten equities research 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’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

NYSE:RTX opened at $118.97 on Wednesday. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. 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 stock’s 50-day simple moving average is $122.12 and its 200 day simple moving average is $112.30. The firm has a market capitalization of $158.35 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) 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 company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the company earned $1.25 EPS. RTX’s revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio 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.