BIP Wealth LLC Has $797,000 Stake in RTX Co. (NYSE:RTX)

BIP Wealth LLC grew its stake in RTX Co. (NYSE:RTX) by 37.2% during the third quarter, HoldingsChannel reports. The firm owned 6,576 shares of the company’s stock after buying an additional 1,784 shares during the quarter. BIP Wealth LLC’s holdings in RTX were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new stake in RTX during the 2nd quarter worth approximately $30,837,000. Napa Wealth Management bought a new stake in shares of RTX in the third quarter worth $1,307,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares during the last quarter. Kennebec Savings Bank acquired a new stake in RTX in the third quarter valued at $953,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

NYSE:RTX opened at $119.40 on Tuesday. The firm has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a fifty day moving average of $122.16 and a 200 day moving average of $113.68. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. RTX’s revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.11%. RTX’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Alembic Global Advisors raised shares of 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. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research lifted their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has a consensus 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.