Trustmark National Bank Trust Department Boosts Stock Position in RTX Co. (NYSE:RTX)

Trustmark National Bank Trust Department raised its stake in RTX Co. (NYSE:RTX) by 10.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,922 shares of the company’s stock after buying an additional 557 shares during the quarter. Trustmark National Bank Trust Department’s holdings in RTX were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RTX. Elgethun Capital Management raised its stake in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC lifted its position in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares in the last quarter. Canal Capital Management LLC lifted its position in RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after buying an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its stake in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of recent analyst reports. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Up 0.8 %

Shares of NYSE RTX opened at $120.14 on Friday. The firm has a market cap of $159.91 billion, a PE ratio of 34.33, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company’s fifty day simple moving average is $122.13 and its 200 day simple moving average is $113.89. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 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 the consensus estimate of $19.84 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 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.