Prospera Financial Services Inc Acquires 2,537 Shares of RTX Co. (NYSE:RTX)

Prospera Financial Services Inc lifted its position in RTX Co. (NYSE:RTX) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,700 shares of the company’s stock after buying an additional 2,537 shares during the quarter. Prospera Financial Services Inc’s holdings in RTX were worth $8,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in RTX by 3,872.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 29,518 shares of the company’s stock valued at $3,576,000 after purchasing an additional 28,775 shares during the last quarter. Chesapeake Wealth Management boosted its stake in shares of RTX by 10.7% in the third quarter. Chesapeake Wealth Management now owns 10,126 shares of the company’s stock valued at $1,227,000 after buying an additional 979 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of RTX in the third quarter worth $29,000. Napa Wealth Management bought a new stake in shares of RTX during the 3rd quarter worth approximately $1,307,000. Finally, CAP Partners LLC acquired a new stake in shares of RTX in the 3rd quarter valued at $218,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 0.7 %

RTX opened at $119.40 on Tuesday. RTX Co. has a 12 month low of $78.00 and a 12 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. The stock has a 50-day moving average of $122.16 and a 200 day moving average of $113.68. The firm has a market cap of $158.92 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 annualized dividend and a yield of 2.11%. RTX’s payout ratio is presently 72.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RTX. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price 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.