Barnett & Company Inc. Purchases 2,350 Shares of RTX Co. (NYSE:RTX)

Barnett & Company Inc. raised its holdings in shares of RTX Co. (NYSE:RTX) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,580 shares of the company’s stock after buying an additional 2,350 shares during the quarter. RTX comprises about 1.6% of Barnett & Company Inc.’s holdings, making the stock its 21st largest position. Barnett & Company Inc.’s holdings in RTX were worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in RTX in the 2nd quarter worth approximately $30,837,000. O Shaughnessy Asset Management LLC boosted its position in shares of RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new position in RTX in the 3rd quarter worth approximately $953,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Robert W. Baird increased their target price 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. Ten equities 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’s stock. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Down 1.2 %

NYSE:RTX traded down $1.46 during midday trading on Tuesday, reaching $123.10. The company had a trading volume of 611,149 shares, compared to its average volume of 6,673,449. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The firm has a market capitalization of $163.85 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.19 and a beta of 0.82. 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’s fifty day simple moving average is $122.11 and its 200-day simple moving average is $113.01.

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

RTX Dividend Announcement

The business 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

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.