Pittenger & Anderson Inc. Boosts Holdings in RTX Co. (NYSE:RTX)

Pittenger & Anderson Inc. grew its position in shares of RTX Co. (NYSE:RTX) by 0.3% in the third quarter, Holdings Channel reports. The firm owned 45,232 shares of the company’s stock after purchasing an additional 125 shares during the period. Pittenger & Anderson Inc.’s holdings in RTX were worth $5,480,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of RTX by 2.7% during the 1st quarter. Jennison Associates LLC now owns 451,463 shares of the company’s stock valued at $44,031,000 after acquiring an additional 11,823 shares during the last quarter. GSA Capital Partners LLP bought a new stake in RTX during the first quarter valued at approximately $661,000. Rehmann Capital Advisory Group grew its stake in RTX by 29.4% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,966 shares of the company’s stock worth $875,000 after buying an additional 2,039 shares in the last quarter. Callan Capital LLC increased its holdings in shares of RTX by 8.3% in the 1st quarter. Callan Capital LLC now owns 4,112 shares of the company’s stock worth $401,000 after buying an additional 316 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of RTX by 96.0% during the 1st quarter. Larson Financial Group LLC now owns 2,115 shares of the company’s stock valued at $206,000 after buying an additional 1,036 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $118.41 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $122.13 and a 200-day moving average price of $112.17. The company has a market cap of $157.61 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RTX. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group boosted 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. Wells Fargo & Company reduced their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.