Fountainhead AM LLC Makes New $208,000 Investment in RTX Co. (NYSE:RTX)

Fountainhead AM LLC purchased a new stake in RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,719 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Briaud Financial Planning Inc grew 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 buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the second quarter valued at approximately $32,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX during the third quarter worth approximately $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX in the 2nd quarter worth $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.8 %

RTX opened at $124.56 on Tuesday. The company has a market cap of $165.79 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a 50 day moving average of $122.11 and a 200 day moving average of $113.01. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. 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 issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, sell-side analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.02%. RTX’s payout ratio is currently 72.00%.

Analyst Ratings Changes

RTX has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Ten equities research 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. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus price target 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.