49 Wealth Management LLC Makes New Investment in RTX Co. (NYSE:RTX)

49 Wealth Management LLC bought a new position in RTX Co. (NYSE:RTX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,525 shares of the company’s stock, valued at approximately $306,000.

Other large investors have also bought and sold shares of the company. Darden Wealth Group Inc grew its position in shares of RTX by 1.3% in the third quarter. Darden Wealth Group Inc now owns 9,916 shares of the company’s stock valued at $1,201,000 after purchasing an additional 132 shares in the last quarter. Eagle Asset Management Inc. grew its position in RTX by 6.4% during the third quarter. Eagle Asset Management Inc. now owns 63,507 shares of the company’s stock worth $7,846,000 after buying an additional 3,818 shares in the last quarter. Pacer Advisors Inc. grew its position in RTX by 3.9% during the third quarter. Pacer Advisors Inc. now owns 98,965 shares of the company’s stock worth $11,991,000 after buying an additional 3,676 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in RTX during the third quarter worth about $379,000. Finally, German American Bancorp Inc. grew its position in RTX by 8.3% during the third quarter. German American Bancorp Inc. now owns 29,342 shares of the company’s stock worth $3,555,000 after buying an additional 2,255 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.8 %

RTX stock opened at $120.14 on Friday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The business’s 50 day moving average price is $122.13 and its two-hundred day moving average price is $113.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $159.91 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. RTX’s payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RTX shares. Susquehanna lifted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. 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 note on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RTX currently has a consensus rating of “Hold” and an average price target of $177.27.

About RTX

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.