Executive Wealth Management LLC Purchases New Stake in RTX Co. (NYSE:RTX)

Executive Wealth Management LLC acquired a new position in shares of RTX Co. (NYSE:RTX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,060 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds have also made changes to their positions in the stock. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of RTX during the 3rd quarter worth $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $123.55 on Friday. The firm has a market capitalization of $164.45 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.15 and a beta of 0.82. The stock has a fifty day moving average price of $122.08 and a two-hundred day moving average price of $112.69. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is 72.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Company 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.