Kaydan Wealth Management Inc. Takes $233,000 Position in RTX Co. (NYSE:RTX)

Kaydan Wealth Management Inc. acquired a new stake in shares of RTX Co. (NYSE:RTX) in the third quarter, Holdings Channel.com reports. The firm acquired 1,927 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors raised its position in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC lifted its stake in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc increased its stake in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.9 %

RTX opened at $126.20 on Thursday. 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 firm has a market cap of $167.88 billion, a P/E ratio of 72.95, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a 52 week low of $72.48 and a 52 week high of $126.82. The business has a fifty day simple moving average of $120.50 and a 200-day simple moving average of $110.07.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. On average, equities analysts expect that RTX Co. will post 5.45 earnings per share for the current 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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 145.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RTX. The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Citigroup upped their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $162.50.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were 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. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.