Paladin Wealth LLC Purchases New Shares in RTX Co. (NYSE:RTX)

Paladin Wealth LLC acquired a new position in RTX Co. (NYSE:RTX) in the third quarter, Holdings Channel reports. The institutional investor acquired 1,437 shares of the company’s stock, valued at approximately $174,000.

Other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc increased its stake in RTX by 64.1% during the second 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 last quarter. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth $41,000. Finally, Alaska Permanent Fund Corp purchased a new position in RTX during the first quarter worth $42,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RTX. Royal Bank of Canada raised their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Melius Research raised their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price objective 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. One investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.50.

RTX Trading Down 0.1 %

NYSE:RTX opened at $123.80 on Monday. The firm has a market cap of $164.59 billion, a P/E ratio of 48.60, a P/E/G ratio of 2.18 and a beta of 0.82. The firm has a 50-day simple moving average of $119.86 and a 200-day simple moving average of $109.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a one year low of $72.48 and a one year high of $125.93.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share. Equities analysts anticipate that RTX Co. will post 5.46 EPS 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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Profile

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.