Balentine LLC Buys New Holdings in RTX Co. (NYSE:RTX)

Balentine LLC purchased a new position in RTX Co. (NYSE:RTX) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,314 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Manning & Napier Advisors LLC acquired a new position in shares of RTX during the second quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC increased its holdings in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in shares of RTX during the second quarter valued at approximately $602,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $118.97 on Wednesday. The stock has a 50-day moving average price of $122.12 and a 200-day moving average price of $112.30. The firm has a market cap of $158.35 billion, a PE ratio of 33.99, a P/E/G ratio of 2.09 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 company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.12%. RTX’s payout ratio is 72.00%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RTX shares. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price 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.