Copley Financial Group Inc. Takes Position in RTX Co. (NYSE:RTX)

Copley Financial Group Inc. purchased a new position in RTX Co. (NYSE:RTX) during the third quarter, HoldingsChannel reports. The institutional investor purchased 4,232 shares of the company’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Briaud Financial Planning Inc increased its position 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 purchasing an additional 100 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX during the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several research reports. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. UBS Group raised 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. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Morgan Stanley upped their target price on RTX from $120.00 to $130.00 and gave the stock 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 note on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

RTX traded up $0.22 during trading on Friday, reaching $116.27. 336,129 shares of the company were exchanged, compared to its average volume of 6,470,359. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market cap of $154.76 billion, a P/E ratio of 33.27, a PEG ratio of 2.07 and a beta of 0.80. RTX Co. has a 52 week low of $79.67 and a 52 week high of $128.70. The firm has a 50 day moving average of $121.64 and a 200 day moving average of $115.33.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 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 analyst estimates of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s payout ratio is currently 72.00%.

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.