Stifel Financial Corp Purchases 17,065 Shares of RTX Co. (NYSE:RTX)

Stifel Financial Corp grew its holdings in RTX Co. (NYSE:RTX) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,782,971 shares of the company’s stock after buying an additional 17,065 shares during the quarter. Stifel Financial Corp’s holdings in RTX were worth $216,028,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in RTX during the third quarter worth about $6,243,000. Quantinno Capital Management LP lifted its stake in RTX by 18.7% during the third quarter. Quantinno Capital Management LP now owns 150,980 shares of the company’s stock worth $18,293,000 after purchasing an additional 23,797 shares during the period. Quarry LP lifted its stake in RTX by 197.9% during the third quarter. Quarry LP now owns 846 shares of the company’s stock worth $103,000 after purchasing an additional 562 shares during the period. Redwood Investment Management LLC lifted its stake in RTX by 4.0% during the third quarter. Redwood Investment Management LLC now owns 14,519 shares of the company’s stock worth $1,748,000 after purchasing an additional 565 shares during the period. Finally, Morse Asset Management Inc bought a new position in RTX during the third quarter worth about $321,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 1.0 %

Shares of NYSE RTX opened at $119.25 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $79.67 and a 52-week high of $128.70. The firm has a 50 day moving average price of $122.27 and a two-hundred day moving average price of $114.88. The stock has a market cap of $158.72 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Barclays raised their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Susquehanna raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.