Paradigm Capital Management LLC NV Makes New Investment in RTX Co. (NYSE:RTX)

Paradigm Capital Management LLC NV acquired a new stake in RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,676 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of RTX in the second quarter worth $634,000. Versant Capital Management Inc increased its holdings in RTX by 90.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,337 shares of the company’s stock valued at $134,000 after acquiring an additional 634 shares during the last quarter. Bank & Trust Co purchased a new stake in RTX in the 2nd quarter worth $72,000. Quent Capital LLC boosted its holdings in shares of RTX by 3.8% during the 2nd quarter. Quent Capital LLC now owns 2,862 shares of the company’s stock valued at $287,000 after purchasing an additional 105 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in shares of RTX by 7.8% during the second quarter. Douglas Lane & Associates LLC now owns 394,495 shares of the company’s stock valued at $39,603,000 after purchasing an additional 28,474 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $121.83 on Friday. The stock has a 50 day moving average price of $122.34 and a 200 day moving average price of $114.55. RTX Co. has a 52-week low of $79.67 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 $162.16 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.16 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. 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. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Eight 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 company. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target 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.