Oppenheimer Asset Management Inc. Grows Stock Holdings in RTX Co. (NYSE:RTX)

Oppenheimer Asset Management Inc. lifted its stake in RTX Co. (NYSE:RTX) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 729,909 shares of the company’s stock after purchasing an additional 66,591 shares during the quarter. RTX comprises about 1.1% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 12th largest holding. Oppenheimer Asset Management Inc. owned 0.05% of RTX worth $88,436,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc increased its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the second quarter valued at $32,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX in the 3rd quarter valued at $41,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.0 %

Shares of RTX stock traded down $0.02 during trading hours on Wednesday, reaching $123.35. 146,004 shares of the stock were exchanged, compared to its average volume of 6,658,710. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The business’s fifty day moving average is $122.16 and its two-hundred day moving average is $113.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $164.18 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data 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. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. As a group, research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed 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 2.04%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RTX. 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 report on Monday, July 29th. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Bank of America raised 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. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.