Ritholtz Wealth Management Purchases 3,420 Shares of RTX Co. (NYSE:RTX)

Ritholtz Wealth Management boosted its position in RTX Co. (NYSE:RTX) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,662 shares of the company’s stock after acquiring an additional 3,420 shares during the period. Ritholtz Wealth Management’s holdings in RTX were worth $3,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RTX. Capital Research Global Investors raised its holdings in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors raised its holdings in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc boosted its stake in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $123.93 on Friday. The firm’s 50-day moving average price is $119.86 and its 200-day moving average price is $109.49. RTX Co. has a 52-week low of $72.29 and a 52-week high of $125.93. The company has a market cap of $164.86 billion, a PE ratio of 71.64, a PEG ratio of 2.18 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 0.66.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, analysts anticipate that RTX Co. will post 5.46 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid 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 dividend yield of 2.03%. RTX’s dividend payout ratio is currently 145.67%.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last quarter. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on RTX. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company dropped their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $162.50.

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.