Klingman & Associates LLC Takes Position in RTX Co. (NYSE:RTX)

Klingman & Associates LLC acquired a new position in shares of RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,147 shares of the company’s stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% in the 2nd 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 RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX in the third quarter valued at approximately $41,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 2.9 %

NYSE RTX opened at $123.55 on Friday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The business has a fifty day moving average price of $122.08 and a two-hundred day moving average price of $112.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $164.45 billion, a PE ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Equities analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company decreased their target price 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. Finally, 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 report on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.