RTX Co. (NYSE:RTX) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P lifted its position in shares of RTX Co. (NYSE:RTX) by 2,059.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,229 shares of the company’s stock after purchasing an additional 90,820 shares during the period. Martingale Asset Management L P’s holdings in RTX were worth $11,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Elgethun Capital Management boosted its stake in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares in the last quarter. Avestar Capital LLC boosted its stake in shares of RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its stake in shares of RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Finally, Canal Capital Management LLC boosted its stake in shares of RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after acquiring an additional 87 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. 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. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Trading Up 1.2 %

Shares of RTX opened at $121.83 on Friday. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $122.27 and a 200-day simple moving average of $114.44. The stock has a market cap of $162.16 billion, a PE ratio of 34.81, a PEG ratio of 2.13 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 (EPS) for the quarter, topping 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 business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the firm posted $1.25 EPS. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.07%. RTX’s payout ratio is presently 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.