World Investment Advisors LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

World Investment Advisors LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 37.1% during the third quarter, Holdings Channel reports. The firm owned 40,809 shares of the company’s stock after acquiring an additional 11,033 shares during the quarter. World Investment Advisors LLC’s holdings in RTX were worth $4,944,000 at the end of the most recent quarter.

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

RTX Price Performance

NYSE RTX opened at $116.06 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 firm has a market capitalization of $154.48 billion, a P/E ratio of 33.16, a PEG ratio of 2.07 and a beta of 0.80. The company has a 50-day moving average price of $121.64 and a 200-day moving average price of $115.33. RTX Co. has a 52 week low of $79.67 and a 52 week 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, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, November 15th. RTX’s payout ratio is 72.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on RTX. Susquehanna lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.