MinichMacGregor Wealth Management LLC Takes Position in RTX Co. (NYSE:RTX)

MinichMacGregor Wealth Management LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,682 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC grew its position in RTX by 2.7% during the first quarter. Jennison Associates LLC now owns 451,463 shares of the company’s stock valued at $44,031,000 after buying an additional 11,823 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of RTX in the 1st quarter worth $661,000. Rehmann Capital Advisory Group raised its stake in shares of RTX by 29.4% in the first quarter. Rehmann Capital Advisory Group now owns 8,966 shares of the company’s stock worth $875,000 after buying an additional 2,039 shares during the period. Callan Capital LLC increased its holdings in RTX by 8.3% in the 1st quarter. Callan Capital LLC now owns 4,112 shares of the company’s stock worth $401,000 after acquiring an additional 316 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in RTX by 96.0% during the 1st quarter. Larson Financial Group LLC now owns 2,115 shares of the company’s stock worth $206,000 after acquiring an additional 1,036 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Ten investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.10 during midday trading on Tuesday, reaching $118.10. The company’s stock had a trading volume of 1,536,948 shares, compared to its average volume of 6,678,490. 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 stock has a fifty day moving average of $122.13 and a 200 day moving average of $112.17. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The firm has a market capitalization of $157.19 billion, a PE ratio of 33.71, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. On average, equities analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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 paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. RTX’s payout ratio is 72.00%.

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.