W.G. Shaheen & Associates DBA Whitney & Co Boosts Stock Position in RTX Co. (NYSE:RTX)

W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in RTX Co. (NYSE:RTX) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,063 shares of the company’s stock after buying an additional 841 shares during the quarter. RTX accounts for 1.6% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 24th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in RTX were worth $14,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its position in shares of RTX by 17.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 21,215 shares of the company’s stock valued at $2,570,000 after buying an additional 3,169 shares in the last quarter. BIP Wealth LLC increased its position in shares of RTX by 37.2% in the third quarter. BIP Wealth LLC now owns 6,576 shares of the company’s stock valued at $797,000 after buying an additional 1,784 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of RTX by 3.6% in the third quarter. Prospera Financial Services Inc now owns 72,700 shares of the company’s stock valued at $8,813,000 after buying an additional 2,537 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of RTX by 3,872.8% in the third quarter. Meeder Asset Management Inc. now owns 29,518 shares of the company’s stock valued at $3,576,000 after buying an additional 28,775 shares in the last quarter. Finally, Chesapeake Wealth Management increased its position in shares of RTX by 10.7% in the third quarter. Chesapeake Wealth Management now owns 10,126 shares of the company’s stock valued at $1,227,000 after buying an additional 979 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna boosted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $119.40 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market cap of $158.92 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The business’s fifty day simple moving average is $122.16 and its 200-day simple moving average is $113.68.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $19.84 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. RTX’s payout ratio is currently 72.00%.

About RTX

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.