RTX Co. (NYSE:RTX) Shares Acquired by Corsair Capital Management L.P.

Corsair Capital Management L.P. increased its stake in shares of RTX Co. (NYSE:RTX) by 4,798.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,898 shares of the company’s stock after purchasing an additional 4,798 shares during the quarter. Corsair Capital Management L.P.’s holdings in RTX were worth $593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc increased its stake in shares of 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 period. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in RTX in the third quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the second quarter valued at about $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $120.50 on Wednesday. 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 firm has a market capitalization of $160.39 billion, a P/E ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82. The stock has a fifty day moving average price of $122.16 and a 200 day moving average price of $114.26. RTX Co. has a 52 week low of $79.57 and a 52 week high of $128.70.

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

RTX Announces Dividend

The company also recently announced 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Finally, Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX 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.