Weatherly Asset Management L. P. Increases Position in RTX Co. (NYSE:RTX)

Weatherly Asset Management L. P. lifted its holdings in RTX Co. (NYSE:RTX) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,719 shares of the company’s stock after buying an additional 1,465 shares during the period. Weatherly Asset Management L. P.’s holdings in RTX were worth $2,510,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Americana Partners LLC raised its holdings in shares of RTX by 1.1% in the 3rd quarter. Americana Partners LLC now owns 15,690 shares of the company’s stock worth $1,901,000 after purchasing an additional 173 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in shares of RTX by 32.8% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 31,939 shares of the company’s stock worth $3,870,000 after purchasing an additional 7,889 shares during the period. Shepherd Financial Partners LLC raised its holdings in shares of RTX by 2.4% in the 3rd quarter. Shepherd Financial Partners LLC now owns 47,096 shares of the company’s stock worth $5,706,000 after purchasing an additional 1,098 shares during the period. Fonville Wealth Management LLC raised its holdings in shares of RTX by 7.7% in the 3rd quarter. Fonville Wealth Management LLC now owns 7,783 shares of the company’s stock worth $943,000 after purchasing an additional 558 shares during the period. Finally, Principal Securities Inc. raised its holdings in shares of RTX by 6.9% in the 3rd quarter. Principal Securities Inc. now owns 30,926 shares of the company’s stock worth $3,747,000 after purchasing an additional 2,008 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $118.75 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. The business has a fifty day simple moving average of $122.13 and a two-hundred day simple moving average of $112.02. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly 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 firm 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%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 72.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.27.

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.