SteelPeak Wealth LLC Has $589,000 Position in RTX Co. (NYSE:RTX)

SteelPeak Wealth LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,861 shares of the company’s stock after buying an additional 93 shares during the period. SteelPeak Wealth LLC’s holdings in RTX were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RTX. Briaud Financial Planning Inc boosted its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC boosted its stake in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $120.99 on Friday. The firm has a market capitalization of $161.04 billion, a P/E ratio of 34.57, a PEG ratio of 2.12 and a beta of 0.82. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The business has a 50-day moving average of $122.13 and a 200-day moving average of $111.89. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during 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 company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid 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 2.08%. RTX’s payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.