Portfolio Design Labs LLC Buys New Position in RTX Co. (NYSE:RTX)

Portfolio Design Labs LLC purchased a new position in RTX Co. (NYSE:RTX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 15,777 shares of the company’s stock, valued at approximately $1,912,000.

A number of other large investors have also modified their holdings of RTX. Kirtland Hills Capital Management LLC increased its stake in RTX by 12.2% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 9,324 shares of the company’s stock valued at $1,130,000 after purchasing an additional 1,014 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of RTX by 15.3% during the third quarter. Jennison Associates LLC now owns 520,742 shares of the company’s stock valued at $63,093,000 after buying an additional 69,285 shares during the last quarter. MWA Asset Management increased its position in shares of RTX by 1.1% in the 3rd quarter. MWA Asset Management now owns 17,197 shares of the company’s stock valued at $2,084,000 after acquiring an additional 187 shares during the period. Northwest Bancshares Inc. purchased a new position in RTX in the 3rd quarter worth $902,000. Finally, Sachetta LLC lifted its position in RTX by 34.3% during the 3rd quarter. Sachetta LLC now owns 13,647 shares of the company’s stock worth $1,653,000 after acquiring an additional 3,485 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

Shares of NYSE:RTX opened at $118.94 on Wednesday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $122.13 and its 200 day moving average price is $113.81. 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 $158.31 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. As a group, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup upped 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, October 10th. Nine 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $177.27.

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.