Means Investment CO. Inc. Buys 159 Shares of RTX Co. (NYSE:RTX)

Means Investment CO. Inc. grew its stake in shares of RTX Co. (NYSE:RTX) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,546 shares of the company’s stock after acquiring an additional 159 shares during the period. Means Investment CO. Inc.’s holdings in RTX were worth $1,884,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Elgethun Capital Management boosted its holdings in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares during the period. Alpha Omega Wealth Management LLC boosted its holdings in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares during the period. Lazari Capital Management Inc. boosted its holdings in RTX by 1.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after buying an additional 95 shares during the period. Fermata Advisors LLC boosted its holdings in RTX by 4.3% in the 3rd quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after buying an additional 96 shares during the period. Finally, Motco boosted its holdings in RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after buying an additional 99 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $162.50.

RTX Price Performance

Shares of NYSE:RTX opened at $125.92 on Friday. The stock has a market cap of $167.41 billion, a PE ratio of 49.38, a PEG ratio of 2.21 and a beta of 0.82. The company’s fifty day moving average is $120.91 and its 200 day moving average is $110.46. RTX Co. has a 52 week low of $72.48 and a 52 week high of $127.00. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. Research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. Insiders own 0.13% of the company’s stock.

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.