Philip James Wealth Mangement LLC Purchases New Position in RTX Co. (NYSE:RTX)

Philip James Wealth Mangement LLC purchased a new stake in RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,417 shares of the company’s stock, valued at approximately $1,747,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in shares of RTX in the 2nd quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC increased its stake in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after buying an additional 232,103 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup boosted 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. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $177.27.

RTX Trading Up 1.5 %

RTX stock traded up $1.79 during mid-day trading on Friday, hitting $121.87. The company’s stock had a trading volume of 266,211 shares, compared to its average volume of 6,685,466. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock’s fifty day moving average is $122.08 and its two-hundred day moving average is $112.54. The firm has a market capitalization of $162.21 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released 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 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 analyst estimates of $19.84 billion. During the same period 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. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 2.07%. RTX’s dividend 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.