Black Diamond Financial LLC Buys 444 Shares of RTX Co. (NYSE:RTX)

Black Diamond Financial LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,263 shares of the company’s stock after purchasing an additional 444 shares during the period. Black Diamond Financial LLC’s holdings in RTX were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in shares of RTX by 6.8% during the 3rd quarter. CIBC Asset Management Inc now owns 246,986 shares of the company’s stock valued at $29,925,000 after purchasing an additional 15,756 shares during the last quarter. Omnia Family Wealth LLC boosted its holdings in shares of RTX by 9.1% during the 3rd quarter. Omnia Family Wealth LLC now owns 2,416 shares of the company’s stock valued at $293,000 after purchasing an additional 201 shares during the last quarter. Lifeworks Advisors LLC bought a new position in shares of RTX in the 3rd quarter valued at about $358,000. Unionview LLC bought a new position in shares of RTX in the 3rd quarter valued at about $203,000. Finally, Metis Global Partners LLC lifted its holdings in shares of RTX by 2.6% in the 3rd quarter. Metis Global Partners LLC now owns 54,740 shares of the company’s stock valued at $6,632,000 after acquiring an additional 1,378 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RTX. Royal Bank of Canada increased their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.27.

RTX Price Performance

NYSE RTX opened at $118.92 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s 50 day moving average price is $122.20 and its 200-day moving average price is $113.28. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a market cap of $158.28 billion, a PE ratio of 33.98, a P/E/G ratio of 2.19 and a beta of 0.82.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.12%. RTX’s dividend payout ratio (DPR) is 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.