Huntington National Bank Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Huntington National Bank boosted its holdings in RTX Co. (NYSE:RTX) by 21.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 662,322 shares of the company’s stock after buying an additional 118,422 shares during the quarter. Huntington National Bank’s holdings in RTX were worth $80,247,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX in the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Stock Up 0.3 %

RTX stock opened at $123.75 on Thursday. The company has a market capitalization of $164.71 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82. The firm’s fifty day simple moving average is $122.21 and its 200-day simple moving average is $113.24. 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 Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

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 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 analyst estimates of $19.84 billion. During the same period last year, the business posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) 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.