Philip James Wealth Mangement LLC Takes $1.75 Million Position in RTX Co. (NYSE:RTX)

Philip James Wealth Mangement LLC acquired a new stake in RTX Co. (NYSE:RTX) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 14,417 shares of the company’s stock, valued at approximately $1,747,000.

Other hedge funds have also modified their holdings of the company. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at $41,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in RTX in the second quarter valued at $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on RTX shares. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Melius Research raised their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

Shares of NYSE RTX traded up $1.79 during midday trading on Friday, reaching $121.87. 266,211 shares of the company were exchanged, compared to its average volume of 6,685,466. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock has a fifty day simple moving average of $122.08 and a 200 day simple moving average of $112.54. The stock has a market cap of $162.21 billion, a P/E ratio of 34.31, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 analyst estimates of $19.84 billion. During the same quarter last year, the company posted $1.25 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

RTX 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.