Kovack Advisors Inc. Has $5.12 Million Position in RTX Co. (NYSE:RTX)

Kovack Advisors Inc. raised its stake in RTX Co. (NYSE:RTX) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,268 shares of the company’s stock after purchasing an additional 152 shares during the period. Kovack Advisors Inc.’s holdings in RTX were worth $5,121,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RTX. Briaud Financial Planning Inc boosted its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in shares of RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the second quarter valued at about $32,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX in the third quarter valued at about $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter worth about $41,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna increased their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. 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. According to MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $177.27.

RTX Price Performance

Shares of NYSE:RTX traded up $0.11 during trading on Wednesday, hitting $123.48. 364,792 shares of the company were exchanged, compared to its average volume of 6,659,705. 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 Co. has a 1-year low of $78.00 and a 1-year high of $128.70. The company has a market capitalization of $164.35 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The business’s 50 day moving average is $122.16 and its 200-day moving average is $113.17.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. 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.