RTX Co. (NYSE:RTX) Shares Acquired by Black Diamond Financial LLC

Black Diamond Financial LLC lifted its stake in shares of RTX Co. (NYSE:RTX) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,263 shares of the company’s stock after buying an additional 444 shares during the period. Black Diamond Financial LLC’s holdings in RTX were worth $395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc raised its holdings in shares of 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. Lynx Investment Advisory purchased a new position in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at $32,000. Western Pacific Wealth Management LP purchased a new position in RTX in the third quarter valued at $41,000. Finally, Fairfield Financial Advisors LTD purchased a new position in RTX in the second quarter valued at $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their target price on shares of 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 boosted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.27.

RTX Price Performance

RTX stock opened at $118.92 on Friday. The company’s 50 day simple moving average is $122.20 and its 200-day simple moving average is $113.28. The company has a market capitalization of $158.28 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for 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%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. As a group, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

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.