Asset Dedication LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Asset Dedication LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,627 shares of the company’s stock after purchasing an additional 2,102 shares during the period. Asset Dedication LLC’s holdings in RTX were worth $2,863,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Briaud Financial Planning Inc grew its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the second quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX in the 2nd quarter valued at $41,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of RTX in the 3rd quarter worth $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on RTX shares. Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $162.50.

RTX Trading Up 0.2 %

RTX stock opened at $124.92 on Wednesday. RTX Co. has a 52 week low of $72.48 and a 52 week high of $126.82. The company has a market cap of $166.08 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 2.18 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 0.66. The business has a fifty day simple moving average of $120.26 and a 200-day simple moving average of $109.96.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. On average, equities research analysts expect that RTX Co. will post 5.46 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a yield of 2.02%. RTX’s dividend payout ratio (DPR) is 98.82%.

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.