Plato Investment Management Ltd Has $1.39 Million Stock Position in RTX Co. (NYSE:RTX)

Plato Investment Management Ltd grew its stake in shares of RTX Co. (NYSE:RTX) by 45.2% during the 3rd quarter, Holdings Channel reports. The firm owned 11,463 shares of the company’s stock after buying an additional 3,567 shares during the period. Plato Investment Management Ltd’s holdings in RTX were worth $1,387,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% during the 2nd 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 bought a new position in shares of RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of RTX during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RTX shares. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted 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 company an “overweight” rating in a research note on Monday, July 29th. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

RTX stock opened at $118.92 on Friday. 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 $78.00 and a 52 week high of $128.70. The stock has a market capitalization of $158.28 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The stock has a fifty day moving average of $122.20 and a 200-day moving average of $113.28.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company 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%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. On average, sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.12%. RTX’s payout ratio is currently 72.00%.

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.