RTX Co. (NYSE:RTX) Shares Purchased by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC lifted its position in RTX Co. (NYSE:RTX) by 49.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,465 shares of the company’s stock after buying an additional 2,130 shares during the period. Strait & Sound Wealth Management LLC’s holdings in RTX were worth $783,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Elgethun Capital Management raised its holdings in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the period. Avestar Capital LLC increased its holdings in shares of RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. Blackston Financial Advisory Group LLC lifted its holdings in shares of RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares in the last quarter. Finally, Canal Capital Management LLC grew its position in shares of RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $116.59 on Tuesday. The firm’s fifty day moving average price is $122.07 and its two-hundred day moving average price is $115.23. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The firm has a market capitalization of $155.18 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. As a group, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group boosted their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target 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.