Financial Council LLC Invests $239,000 in RTX Co. (NYSE:RTX)

Financial Council LLC acquired a new position in RTX Co. (NYSE:RTX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,971 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently made changes to their positions in RTX. Gabelli Funds LLC boosted its stake in RTX by 68.5% during the 1st quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock valued at $5,232,000 after purchasing an additional 21,800 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of RTX by 7.0% during the first quarter. Kestra Advisory Services LLC now owns 249,474 shares of the company’s stock valued at $24,331,000 after buying an additional 16,304 shares during the last quarter. Ceeto Capital Group LLC increased its holdings in RTX by 1.5% in the 1st quarter. Ceeto Capital Group LLC now owns 20,887 shares of the company’s stock worth $2,038,000 after buying an additional 300 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in RTX by 51.7% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 710 shares of the company’s stock worth $69,000 after buying an additional 242 shares during the last quarter. Finally, QVR LLC purchased a new position in shares of RTX during the first quarter valued at approximately $601,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.2 %

Shares of NYSE:RTX opened at $120.77 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. The business’s 50 day moving average is $122.17 and its 200 day moving average is $114.02. The stock has a market cap of $160.75 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS 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 firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm posted $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 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 2.09%. RTX’s dividend payout ratio is presently 72.00%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley upped 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. Finally, Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average target price 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.