Barnett & Company Inc. Raises Stake in RTX Co. (NYSE:RTX)

Barnett & Company Inc. boosted its holdings in RTX Co. (NYSE:RTX) by 13.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,580 shares of the company’s stock after purchasing an additional 2,350 shares during the quarter. RTX comprises approximately 1.6% of Barnett & Company Inc.’s portfolio, making the stock its 21st biggest position. Barnett & Company Inc.’s holdings in RTX were worth $2,372,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX during the second quarter worth about $32,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at approximately $41,000. Finally, Fairfield Financial Advisors LTD acquired a new position in RTX in the 2nd quarter worth $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE:RTX traded down $1.46 on Tuesday, reaching $123.10. 611,149 shares of the company’s stock were exchanged, compared to its average volume of 6,673,449. The company has a market capitalization of $163.85 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 2.19 and a beta of 0.82. The company has a fifty day moving average of $122.11 and a 200-day moving average of $113.01. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 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 previous year, the company posted $1.25 EPS. On average, research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s payout ratio is 72.00%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.