Trustmark National Bank Trust Department Buys 557 Shares of RTX Co. (NYSE:RTX)

Trustmark National Bank Trust Department grew its holdings in RTX Co. (NYSE:RTX) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,922 shares of the company’s stock after buying an additional 557 shares during the quarter. Trustmark National Bank Trust Department’s holdings in RTX were worth $718,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in RTX during the 1st quarter worth approximately $325,000. Gabelli Funds LLC boosted its position in shares of RTX by 68.5% in the first quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock valued at $5,232,000 after acquiring an additional 21,800 shares during the period. Kestra Advisory Services LLC raised its stake in RTX by 7.0% in the first quarter. Kestra Advisory Services LLC now owns 249,474 shares of the company’s stock valued at $24,331,000 after purchasing an additional 16,304 shares in the last quarter. Ceeto Capital Group LLC raised its stake in RTX by 1.5% in the first quarter. Ceeto Capital Group LLC now owns 20,887 shares of the company’s stock valued at $2,038,000 after purchasing an additional 300 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC raised its stake in RTX by 51.7% in the first quarter. Beaird Harris Wealth Management LLC now owns 710 shares of the company’s stock valued at $69,000 after purchasing an additional 242 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 0.8 %

Shares of RTX stock opened at $120.14 on Friday. The firm’s 50 day moving average price is $122.13 and its 200-day moving average price is $113.89. The company has a market cap of $159.91 billion, a P/E ratio of 34.33, a PEG ratio of 2.11 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 0.62. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 2.10%. RTX’s payout ratio is 72.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.