Lifeworks Advisors LLC Makes New $358,000 Investment in RTX Co. (NYSE:RTX)

Lifeworks Advisors LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the third quarter, Holdings Channel.com reports. The firm purchased 2,958 shares of the company’s stock, valued at approximately $358,000.

Other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in RTX during the 1st quarter worth approximately $730,000. Kingsview Wealth Management LLC lifted its stake in RTX by 1.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 26,354 shares of the company’s stock valued at $2,570,000 after buying an additional 416 shares in the last quarter. Motco lifted its stake in RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after buying an additional 99 shares in the last quarter. Pinkerton Retirement Specialists LLC lifted its stake in RTX by 19.5% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 65,258 shares of the company’s stock valued at $6,365,000 after buying an additional 10,658 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in shares of RTX by 1.7% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 8,630 shares of the company’s stock worth $842,000 after purchasing an additional 144 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 3.9 %

Shares of NYSE RTX opened at $118.92 on Friday. The stock has a market cap of $158.28 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.19 and a beta of 0.82. The business has a 50 day simple moving average of $122.20 and a 200 day simple moving average of $113.28. RTX Co. has a 52 week low of $78.00 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.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

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.