Avestar Capital LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Avestar Capital LLC boosted its holdings in RTX Co. (NYSE:RTX) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,461 shares of the company’s stock after buying an additional 85 shares during the period. Avestar Capital LLC’s holdings in RTX were worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in shares of RTX in the 2nd quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter worth about $32,000. Finally, Fairfield Financial Advisors LTD purchased a new position in RTX in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $118.51 on Tuesday. 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 firm’s 50-day moving average price is $122.16 and its two-hundred day moving average price is $114.26. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The stock has a market capitalization of $157.74 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. RTX’s dividend payout ratio is currently 72.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective 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. Citigroup increased 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. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Susquehanna increased their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.