Daiwa Securities Group Inc. Purchases 13,800 Shares of RTX Co. (NYSE:RTX)

Daiwa Securities Group Inc. boosted its position in RTX Co. (NYSE:RTX) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,308 shares of the company’s stock after purchasing an additional 13,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in RTX were worth $19,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Hartford Funds Management Co LLC boosted its position in shares of RTX by 9.9% in the third quarter. Hartford Funds Management Co LLC now owns 4,490 shares of the company’s stock valued at $544,000 after acquiring an additional 403 shares during the period. Summit Trail Advisors LLC bought a new stake in RTX in the 3rd quarter valued at about $2,785,000. SevenBridge Financial Group LLC boosted its holdings in RTX by 2.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 32,413 shares of the company’s stock valued at $4,037,000 after purchasing an additional 689 shares during the period. Wealth Dimensions Group Ltd. acquired a new position in shares of RTX during the 3rd quarter worth approximately $235,000. Finally, Larson Financial Group LLC increased its holdings in shares of RTX by 124.7% during the third quarter. Larson Financial Group LLC now owns 9,364 shares of the company’s stock worth $1,134,000 after purchasing an additional 5,196 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RTX shares. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Up 0.2 %

Shares of RTX opened at $120.77 on Monday. The stock’s 50-day moving average price is $122.17 and its two-hundred day moving average price is $114.17. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70. The company has a market capitalization of $160.75 billion, a PE ratio of 34.51, a PEG ratio of 2.14 and a beta of 0.82. 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 posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company 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%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.