Independent Advisor Alliance Raises Position in RTX Co. (NYSE:RTX)

Independent Advisor Alliance increased its holdings in shares of RTX Co. (NYSE:RTX) by 38.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,916 shares of the company’s stock after buying an additional 13,868 shares during the quarter. Independent Advisor Alliance’s holdings in RTX were worth $6,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Earnest Partners LLC lifted its stake in RTX by 2.9% during the 1st quarter. Earnest Partners LLC now owns 8,054 shares of the company’s stock valued at $786,000 after acquiring an additional 225 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of RTX by 0.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 92,700 shares of the company’s stock valued at $9,041,000 after buying an additional 581 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of RTX by 65.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 118,110 shares of the company’s stock valued at $11,519,000 after buying an additional 46,510 shares during the period. Meiji Yasuda Life Insurance Co boosted its stake in shares of RTX by 41.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,395 shares of the company’s stock worth $331,000 after buying an additional 990 shares during the last quarter. Finally, Slagle Financial LLC purchased a new position in RTX during the first quarter valued at approximately $2,795,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several analyst reports. The Goldman Sachs Group boosted 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 upgraded 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. Susquehanna raised their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, UBS Group lifted their target price 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. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Price Performance

RTX stock opened at $120.77 on Monday. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The business has a fifty day moving average of $122.17 and a two-hundred day moving average of $114.17. The stock has a market cap of $160.75 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. 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 (NYSE:RTX) last issued its quarterly earnings data 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share 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 given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 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.