Walker Asset Management LLC Makes New $228,000 Investment in RTX Co. (NYSE:RTX)

Walker Asset Management LLC acquired a new position in RTX Co. (NYSE:RTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,882 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in RTX during the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC raised its position in RTX by 7.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Cetera Investment Advisers raised its position in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX during the 2nd quarter valued at $602,000. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of RTX traded down $1.18 during mid-day trading on Thursday, reaching $126.03. The company had a trading volume of 1,082,303 shares, compared to its average volume of 6,747,194. The stock has a market capitalization of $167.65 billion, a P/E ratio of 36.06, a PEG ratio of 2.21 and a beta of 0.82. The stock has a 50 day moving average of $121.46 and a two-hundred day moving average of $111.02. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 52-week low of $77.76 and a 52-week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for 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%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, analysts expect that RTX Co. will post 5.5 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. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. RTX’s dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RTX. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average price target of $168.56.

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.