AM Investment Strategies LLC Takes $223,000 Position in RTX Co. (NYSE:RTX)

AM Investment Strategies LLC bought a new stake in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,841 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds have also recently bought and sold shares of the company. Briaud Financial Planning Inc boosted its position in shares of RTX by 64.1% during the 2nd 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 bought a new stake in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC boosted its stake in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group upped their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Susquehanna upped their price target 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. Finally, UBS Group lifted their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Ten investment analysts have rated the stock with 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, RTX currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Down 1.9 %

Shares of RTX stock traded down $2.24 during trading on Friday, hitting $118.75. 5,235,060 shares of the stock traded hands, compared to its average volume of 4,109,141. The company has a fifty day moving average price of $122.13 and a two-hundred day moving average price of $112.02. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The stock has a market cap of $158.06 billion, a P/E ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. 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 announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business posted $1.25 EPS. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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 dividend on an annualized basis and a yield of 2.12%. RTX’s payout ratio is currently 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.