Western Pacific Wealth Management LP Purchases New Position in RTX Co. (NYSE:RTX)

Western Pacific Wealth Management LP acquired a new position in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 338 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Briaud Financial Planning Inc lifted its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX during the 2nd quarter worth approximately $41,000. Finally, ORG Wealth Partners LLC acquired a new stake in RTX during the 3rd quarter valued at $50,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RTX. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. UBS Group upped their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $177.27.

RTX Trading Down 1.2 %

Shares of NYSE RTX opened at $120.08 on Friday. The company’s fifty day moving average is $122.08 and its 200-day moving average is $112.54. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $159.83 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.15 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

RTX 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.