Lord Abbett & CO. LLC Boosts Position in RTX Co. (NYSE:RTX)

Lord Abbett & CO. LLC boosted its position in RTX Co. (NYSE:RTX) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 537,476 shares of the company’s stock after purchasing an additional 38,081 shares during the period. Lord Abbett & CO. LLC’s holdings in RTX were worth $65,121,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RTX. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in RTX in the third quarter worth approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter valued at $41,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the 3rd quarter worth $41,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Performance

Shares of NYSE RTX opened at $117.75 on Friday. The company has a market cap of $156.73 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.08 and a beta of 0.80. RTX Co. has a 52-week low of $79.67 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s fifty day moving average is $121.49 and its two-hundred day moving average is $115.48.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.