Valmark Advisers Inc. Purchases 1,068 Shares of RTX Co. (NYSE:RTX)

Valmark Advisers Inc. grew its position in RTX Co. (NYSE:RTX) by 9.8% during the third quarter, HoldingsChannel.com reports. The fund owned 12,002 shares of the company’s stock after acquiring an additional 1,068 shares during the quarter. Valmark Advisers Inc.’s holdings in RTX were worth $1,454,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RTX. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX in the second quarter worth about $41,000. Finally, ORG Wealth Partners LLC bought a new stake in RTX during the third quarter worth approximately $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RTX. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Alembic Global Advisors upgraded shares of 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. Finally, Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $122.79 on Wednesday. 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’s fifty day moving average price is $121.98 and its 200-day moving average price is $111.75. The firm has a market cap of $163.44 billion, a P/E ratio of 48.15, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 12 month low of $77.76 and a 12 month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.