Benjamin Edwards Inc. Increases Stock Position in RTX Co. (NYSE:RTX)

Benjamin Edwards Inc. increased its holdings in RTX Co. (NYSE:RTX) by 729.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,803 shares of the company’s stock after acquiring an additional 71,064 shares during the quarter. Benjamin Edwards Inc.’s holdings in RTX were worth $9,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new position in RTX in the third quarter valued at $29,000. Briaud Financial Planning Inc grew its holdings in shares of 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 during the last quarter. Lynx Investment Advisory acquired a new position in RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Performance

RTX opened at $118.67 on Tuesday. RTX Co. has a 1-year low of $79.67 and a 1-year high of $128.70. The stock has a market cap of $157.95 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.16 and a beta of 0.80. The stock’s 50 day simple moving average is $122.34 and its 200 day simple moving average is $114.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 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.