Transamerica Financial Advisors Inc. Takes $1.50 Million Position in RTX Co. (NYSE:RTX)

Transamerica Financial Advisors Inc. bought a new stake in RTX Co. (NYSE:RTX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,343 shares of the company’s stock, valued at approximately $1,496,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Elgethun Capital Management lifted its holdings in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the last quarter. Avestar Capital LLC raised its position in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its position in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares during the period. Finally, Canal Capital Management LLC grew its stake in shares of RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after buying an additional 87 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. 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. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX opened at $120.62 on Wednesday. The company has a 50-day simple moving average of $122.16 and a two-hundred day simple moving average of $114.26. 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 $160.55 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a one year low of $79.13 and a one year high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. 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 (DPR) is currently 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.