Deroy & Devereaux Private Investment Counsel Inc. Raises Position in RTX Co. (NYSE:RTX)

Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of RTX Co. (NYSE:RTX) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,519 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. RTX makes up 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 23rd largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in RTX were worth $29,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its position in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors raised its position in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Marshall Wace LLP raised its position in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the period. International Assets Investment Management LLC raised its position in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised 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. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday. Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Ten equities research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Price Performance

RTX stock opened at $120.99 on Friday. RTX Co. has a 12 month low of $78.00 and a 12 month 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 company has a 50-day moving average price of $122.13 and a 200 day moving average price of $111.89. The stock has a market cap of $161.04 billion, a PE ratio of 34.57, a P/E/G ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly 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 firm 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%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.08%. RTX’s dividend payout ratio (DPR) is 72.00%.

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.