Apollon Wealth Management LLC Has $6.73 Million Stock Holdings in RTX Co. (NYSE:RTX)

Apollon Wealth Management LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,555 shares of the company’s stock after selling 711 shares during the period. Apollon Wealth Management LLC’s holdings in RTX were worth $6,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Elgethun Capital Management boosted its position in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC boosted its position in shares of RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the period. Canal Capital Management LLC boosted its position in shares of RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after acquiring an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC lifted its position in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research reports. Melius Research lifted their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Up 0.8 %

NYSE:RTX opened at $124.56 on Tuesday. The firm has a market capitalization of $165.79 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The stock’s 50 day moving average price is $122.11 and its two-hundred day moving average price is $113.01. 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 (NYSE:RTX) last posted 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 firm had revenue of $20.09 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.25 EPS. Equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is presently 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.