Los Angeles Capital Management LLC Boosts Stake in RTX Co. (NYSE:RTX)

Los Angeles Capital Management LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 498.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 521,793 shares of the company’s stock after acquiring an additional 434,628 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RTX were worth $63,220,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc increased its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the second quarter worth approximately $32,000. Western Pacific Wealth Management LP bought a new stake in RTX during the third quarter worth approximately $41,000. Finally, Fairfield Financial Advisors LTD bought a new stake in RTX during the second quarter worth approximately $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 2.9 %

Shares of RTX traded up $3.47 during midday trading on Friday, hitting $123.55. 6,382,044 shares of the company’s stock traded hands, compared to its average volume of 4,978,090. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The firm’s fifty day moving average is $122.08 and its 200-day moving average is $112.77. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $164.45 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 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 during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

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 dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio is presently 72.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Susquehanna upped their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. 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 note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $177.27.

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.