Equitable Trust Co. Buys 879 Shares of RTX Co. (NYSE:RTX)

Equitable Trust Co. boosted its stake in shares of RTX Co. (NYSE:RTX) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,457 shares of the company’s stock after buying an additional 879 shares during the quarter. Equitable Trust Co.’s holdings in RTX were worth $2,842,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its position 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 purchasing an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter worth about $32,000. Western Pacific Wealth Management LP bought a new position in RTX during the third quarter worth about $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter worth about $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 2.9 %

RTX stock opened at $123.55 on Friday. The company has a market capitalization of $164.45 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company’s 50 day moving average price is $122.08 and its two-hundred day moving average price is $112.69. 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 (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’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. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Company 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.