Ballew Advisors Inc Invests $220,000 in RTX Co. (NYSE:RTX)

Ballew Advisors Inc acquired a new stake in RTX Co. (NYSE:RTX) during the third quarter, HoldingsChannel reports. The fund acquired 1,776 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC purchased a new position in shares of RTX during the 4th quarter worth approximately $38,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the 2nd quarter valued at approximately $41,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 0.8 %

RTX stock opened at $123.93 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $164.86 billion, a PE ratio of 71.64, a P/E/G ratio of 2.18 and a beta of 0.82. The stock has a 50-day moving average price of $119.86 and a 200 day moving average price of $109.49. RTX Co. has a 52 week low of $72.29 and a 52 week high of $125.93.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities research analysts predict that RTX Co. will post 5.46 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 145.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RTX shares. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last quarter. 0.13% of the stock is owned by insiders.

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.