Summit Trail Advisors LLC Acquires Shares of 22,987 RTX Co. (NYSE:RTX)

Summit Trail Advisors LLC acquired a new stake in RTX Co. (NYSE:RTX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,987 shares of the company’s stock, valued at approximately $2,785,000.

Other hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in shares of RTX during the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the 2nd quarter valued at about $32,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.2 %

Shares of RTX stock opened at $120.77 on Friday. 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 stock has a market capitalization of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The company has a 50-day simple moving average of $122.17 and a two-hundred day simple moving average of $114.09.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The business’s revenue for the quarter 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s payout ratio is 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research reports. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays lifted their target price 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. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.