SevenBridge Financial Group LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

SevenBridge Financial Group LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,413 shares of the company’s stock after buying an additional 689 shares during the quarter. SevenBridge Financial Group LLC’s holdings in RTX were worth $4,037,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Gabelli Funds LLC boosted its stake in RTX by 68.5% in the 1st quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock worth $5,232,000 after purchasing an additional 21,800 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of RTX by 2.9% in the first quarter. Earnest Partners LLC now owns 8,054 shares of the company’s stock worth $786,000 after buying an additional 225 shares in the last quarter. Lavaca Capital LLC grew its holdings in shares of RTX by 4.6% during the first quarter. Lavaca Capital LLC now owns 4,985 shares of the company’s stock valued at $486,000 after buying an additional 221 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of RTX by 0.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 92,700 shares of the company’s stock valued at $9,041,000 after acquiring an additional 581 shares in the last quarter. Finally, Kinloch Capital LLC raised its holdings in RTX by 14.4% in the 1st quarter. Kinloch Capital LLC now owns 30,993 shares of the company’s stock worth $3,023,000 after acquiring an additional 3,895 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Up 0.2 %

RTX opened at $120.77 on Friday. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week 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. The stock has a market cap of $160.75 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The firm’s fifty day moving average is $122.17 and its 200 day moving average is $114.09.

RTX (NYSE:RTX) last announced its quarterly earnings data 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 during 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 company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 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.