Adell Harriman & Carpenter Inc. Increases Stake in RTX Co. (NYSE:RTX)

Adell Harriman & Carpenter Inc. grew its position in RTX Co. (NYSE:RTX) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,519 shares of the company’s stock after acquiring an additional 438 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in RTX were worth $7,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc increased its stake in 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 RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX in the 2nd quarter worth about $41,000. Finally, Stephens Consulting LLC increased its stake in RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 2.1 %

RTX stock opened at $122.79 on Wednesday. The firm has a 50 day moving average of $121.98 and a 200 day moving average of $111.75. The stock has a market capitalization of $163.44 billion, a PE ratio of 48.15, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. 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 Co. has a 52 week low of $77.76 and a 52 week high of $128.70.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. Sell-side analysts forecast that RTX Co. will post 5.57 earnings per share for the current year.

RTX Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on RTX shares. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Susquehanna raised their target price on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $177.27.

RTX 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.