Kirtland Hills Capital Management LLC Acquires 1,014 Shares of RTX Co. (NYSE:RTX)

Kirtland Hills Capital Management LLC grew its holdings in shares of RTX Co. (NYSE:RTX) by 12.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,324 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in RTX were worth $1,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Napa Wealth Management bought a new stake in RTX during the 3rd quarter worth about $1,307,000. Manning & Napier Advisors LLC bought a new stake in shares of RTX in the 2nd quarter valued at about $30,837,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares during the period. Kennebec Savings Bank bought a new stake in shares of RTX in the 3rd quarter valued at about $953,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of RTX by 36.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target 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. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $177.27.

RTX Price Performance

RTX stock opened at $118.94 on Wednesday. The company has a fifty day moving average price of $122.13 and a 200-day moving average price of $113.81. The company has a market capitalization of $158.31 billion, a P/E ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. 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 released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

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