RTX Co. (NYSE:RTX) Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC boosted its holdings in RTX Co. (NYSE:RTX) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 14,893 shares of the company’s stock after purchasing an additional 572 shares during the period. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,804,000 as of its most recent SEC filing.

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

RTX Stock Performance

RTX opened at $118.97 on Wednesday. The business has a 50 day moving average price of $122.11 and a two-hundred day moving average price of $112.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market capitalization of $158.35 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s payout ratio is currently 72.00%.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Morgan Stanley increased 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. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Citigroup upped their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.