RTX Co. (NYSE:RTX) Shares Purchased by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lifted its position in RTX Co. (NYSE:RTX) by 0.7% in the third quarter, Holdings Channel reports. The firm owned 120,063 shares of the company’s stock after acquiring an additional 841 shares during the period. RTX accounts for approximately 1.6% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 24th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in RTX were worth $14,547,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC lifted its position in RTX by 17.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 21,215 shares of the company’s stock worth $2,570,000 after acquiring an additional 3,169 shares during the period. BIP Wealth LLC lifted its position in RTX by 37.2% during the 3rd quarter. BIP Wealth LLC now owns 6,576 shares of the company’s stock worth $797,000 after acquiring an additional 1,784 shares during the period. Prospera Financial Services Inc lifted its position in RTX by 3.6% during the 3rd quarter. Prospera Financial Services Inc now owns 72,700 shares of the company’s stock worth $8,813,000 after acquiring an additional 2,537 shares during the period. Meeder Asset Management Inc. lifted its position in RTX by 3,872.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 29,518 shares of the company’s stock worth $3,576,000 after acquiring an additional 28,775 shares during the period. Finally, Chesapeake Wealth Management lifted its position in RTX by 10.7% during the 3rd quarter. Chesapeake Wealth Management now owns 10,126 shares of the company’s stock worth $1,227,000 after acquiring an additional 979 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $177.27.

RTX Price Performance

RTX stock opened at $119.40 on Tuesday. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The stock’s fifty day simple moving average is $122.16 and its 200-day simple moving average is $113.68. 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 capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 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.