MCF Advisors LLC Grows Stock Position in RTX Co. (NYSE:RTX)

MCF Advisors LLC increased its holdings in RTX Co. (NYSE:RTX) by 2.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,966 shares of the company’s stock after purchasing an additional 205 shares during the quarter. MCF Advisors LLC’s holdings in RTX were worth $1,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Covenant Partners LLC lifted its stake in shares of RTX by 6.0% in the 3rd quarter. Covenant Partners LLC now owns 2,369 shares of the company’s stock valued at $287,000 after purchasing an additional 134 shares during the last quarter. PFG Investments LLC raised its holdings in RTX by 0.6% in the 3rd quarter. PFG Investments LLC now owns 19,993 shares of the company’s stock valued at $2,422,000 after buying an additional 127 shares during the period. Pathway Financial Advisers LLC raised its holdings in RTX by 2.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 26,104 shares of the company’s stock valued at $3,163,000 after buying an additional 519 shares during the period. NorthCrest Asset Manangement LLC lifted its position in RTX by 2.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 212,960 shares of the company’s stock valued at $25,802,000 after buying an additional 4,491 shares during the last quarter. Finally, Sageworth Trust Co boosted its stake in RTX by 10.9% during the third quarter. Sageworth Trust Co now owns 2,750 shares of the company’s stock worth $333,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. JPMorgan Chase & Co. upped their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $168.56.

RTX Stock Down 0.0 %

Shares of NYSE:RTX traded down $0.01 during trading hours on Friday, reaching $125.16. The stock had a trading volume of 4,716,205 shares, compared to its average volume of 6,752,277. The stock has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The firm’s 50 day moving average is $121.74 and its 200-day moving average is $111.28. RTX Co. has a 1 year low of $77.76 and a 1 year 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.

RTX (NYSE:RTX) last posted its quarterly 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 company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.5 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio is currently 98.82%.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,856 shares of company stock valued at $17,131,253. 0.13% of the stock is owned by corporate insiders.

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.