Mitchell & Pahl Private Wealth LLC Raises Holdings in RTX Co. (NYSE:RTX)

Mitchell & Pahl Private Wealth LLC increased its position in RTX Co. (NYSE:RTX) by 13.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,086 shares of the company’s stock after buying an additional 1,876 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in RTX were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc raised its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the second quarter worth about $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the third quarter worth about $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RTX shares. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $162.50.

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock traded down $0.49 during midday trading on Thursday, reaching $125.73. 748,450 shares of the company traded hands, compared to its average volume of 6,800,020. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 12 month low of $72.48 and a 12 month high of $126.82. The firm has a market capitalization of $167.25 billion, a price-to-earnings ratio of 72.81, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The business has a 50 day moving average of $120.50 and a two-hundred day moving average of $110.07.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. As a group, research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared 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 2.00%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 145.67%.

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.