Stonebrook Private Inc. Acquires New Stake in RTX Co. (NYSE:RTX)

Stonebrook Private Inc. bought a new position in shares of RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 1,893 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently made changes to their positions in RTX. Legal & General Group Plc boosted its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Ameriprise Financial Inc. grew its stake in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. Dimensional Fund Advisors LP increased its holdings in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in RTX by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after buying an additional 38,930 shares during the period. Finally, National Pension Service boosted its holdings in shares of RTX by 14.5% during the 3rd quarter. National Pension Service now owns 2,483,792 shares of the company’s stock worth $300,936,000 after buying an additional 313,710 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Barclays upped their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Price Performance

Shares of NYSE RTX opened at $120.77 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. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week high of $128.70. The stock has a market cap of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The stock has a fifty day moving average of $122.17 and a 200-day moving average of $114.09.

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

RTX Dividend Announcement

The company 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 yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 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.