Summit Trail Advisors LLC Buys Shares of 22,987 RTX Co. (NYSE:RTX)

Summit Trail Advisors LLC bought a new stake in shares of RTX Co. (NYSE:RTX) in the third quarter, HoldingsChannel reports. The institutional investor bought 22,987 shares of the company’s stock, valued at approximately $2,785,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Napa Wealth Management bought a new position in shares of RTX in the third quarter worth approximately $1,307,000. Manning & Napier Advisors LLC bought a new position in shares of RTX in the second quarter worth approximately $30,837,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of RTX during the third quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after acquiring an additional 97,749 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 0.2 %

RTX stock opened at $120.77 on Friday. The company has a market capitalization of $160.75 billion, a PE ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70. The firm’s 50-day moving average is $122.17 and its 200 day moving average is $114.09. 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 posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. On average, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.