Raymond James Trust N.A. Purchases 3,011 Shares of RTX Co. (NYSE:RTX)

Raymond James Trust N.A. lifted its position in shares of RTX Co. (NYSE:RTX) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 123,307 shares of the company’s stock after acquiring an additional 3,011 shares during the quarter. Raymond James Trust N.A.’s holdings in RTX were worth $14,940,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RTX. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the 2nd 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 period. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the third quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the second quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $120.14 on Friday. 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 Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock’s 50 day simple moving average is $122.13 and its 200 day simple moving average is $113.89. The firm has a market cap of $159.91 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $19.84 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RTX shares. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, October 3rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Nine 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’s stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $177.27.

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.