Larson Financial Group LLC Boosts Stake in RTX Co. (NYSE:RTX)

Larson Financial Group LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 124.7% during the third quarter, HoldingsChannel reports. The fund owned 9,364 shares of the company’s stock after buying an additional 5,196 shares during the period. Larson Financial Group LLC’s holdings in RTX were worth $1,134,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter worth $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.2 %

NYSE:RTX opened at $120.77 on Monday. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70. The business’s 50-day moving average is $122.17 and its two-hundred day moving average is $114.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly 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. The firm 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” 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.