Ritholtz Wealth Management Raises Stock Position in RTX Co. (NYSE:RTX)

Ritholtz Wealth Management grew its holdings in RTX Co. (NYSE:RTX) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,662 shares of the company’s stock after acquiring an additional 3,420 shares during the period. Ritholtz Wealth Management’s holdings in RTX were worth $3,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RTX. Capital Research Global Investors lifted its holdings in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors raised its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc boosted its position in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $162.50.

RTX Stock Up 0.8 %

Shares of NYSE:RTX opened at $123.93 on Friday. The firm has a market capitalization of $164.86 billion, a PE ratio of 71.64, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The business has a 50 day simple moving average of $119.86 and a two-hundred day simple moving average of $109.49. RTX Co. has a 1 year low of $72.29 and a 1 year high of $125.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

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

RTX Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. RTX’s payout ratio is 145.67%.

Insider Buying and Selling at RTX

In other 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 transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. Company insiders own 0.13% of the company’s stock.

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.