Colonial River Investments LLC Invests $537,000 in RTX Co. (NYSE:RTX)

Colonial River Investments LLC purchased a new position in RTX Co. (NYSE:RTX) during the third quarter, Holdings Channel.com reports. The firm purchased 4,430 shares of the company’s stock, valued at approximately $537,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RTX. Elgethun Capital Management boosted its stake in RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after acquiring an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the period. Blackston Financial Advisory Group LLC boosted its position in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares during the last quarter. Canal Capital Management LLC grew its stake in shares of RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after purchasing an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC increased its holdings in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RTX shares. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group upped their target price 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. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Susquehanna upped their price objective 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, Citigroup raised 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.27.

RTX Trading Up 2.9 %

NYSE:RTX opened at $123.55 on Friday. 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 Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company has a market cap of $164.45 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The business has a 50 day moving average price of $122.08 and a two-hundred day moving average price of $112.77.

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

RTX Announces Dividend

The business 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is presently 72.00%.

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.