Boston Family Office LLC Boosts Position in RTX Co. (NYSE:RTX)

Boston Family Office LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 18.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,199 shares of the company’s stock after buying an additional 1,441 shares during the quarter. Boston Family Office LLC’s holdings in RTX were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter worth approximately $29,000. Briaud Financial Planning Inc raised its position in RTX by 64.1% during 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 last quarter. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter worth approximately $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the 3rd quarter worth approximately $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 1.8 %

Shares of RTX opened at $118.65 on Tuesday. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $122.16 and its two-hundred day moving average is $114.26. The stock has a market cap of $157.93 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last announced 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 company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.12%. RTX’s dividend payout ratio is presently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average 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.