MidAtlantic Capital Management Inc. Acquires New Position in RTX Co. (NYSE:RTX)

MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX Co. (NYSE:RTX) during the third quarter, Holdings Channel.com reports. The firm purchased 240 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Edgestream Partners L.P. purchased a new stake in RTX during the 1st quarter valued at about $325,000. Bessemer Group Inc. increased its holdings in RTX by 1.4% in the 1st quarter. Bessemer Group Inc. now owns 86,243 shares of the company’s stock worth $8,412,000 after buying an additional 1,225 shares during the period. Lake Street Advisors Group LLC lifted its position in RTX by 59.2% during the first quarter. Lake Street Advisors Group LLC now owns 10,624 shares of the company’s stock valued at $1,036,000 after purchasing an additional 3,951 shares during the period. Twin Capital Management Inc. grew its position in RTX by 99.1% during the 1st quarter. Twin Capital Management Inc. now owns 9,869 shares of the company’s stock worth $963,000 after purchasing an additional 4,912 shares during the period. Finally, Vaughan David Investments LLC IL purchased a new position in shares of RTX during the 1st quarter valued at about $210,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $119.40 on Tuesday. The firm has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a fifty day simple moving average of $122.16 and a 200-day simple moving average of $113.68. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.56 EPS 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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased 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, UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus 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.