Cypress Capital Group Has $4.65 Million Position in RTX Co. (NYSE:RTX)

Cypress Capital Group boosted its holdings in shares of RTX Co. (NYSE:RTX) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,396 shares of the company’s stock after acquiring an additional 489 shares during the period. Cypress Capital Group’s holdings in RTX were worth $4,652,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new position in RTX in the 3rd quarter valued at about $29,000. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter valued at $32,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter valued at $41,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

NYSE RTX opened at $119.14 on Thursday. The company’s 50 day moving average is $122.13 and its 200-day moving average is $113.84. The firm has a market cap of $158.58 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. 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 (NYSE:RTX) last posted 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio 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.