RTX Co. (NYSE:RTX) Shares Bought by Cadence Bank

Cadence Bank grew its stake in RTX Co. (NYSE:RTX) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,840 shares of the company’s stock after purchasing an additional 1,992 shares during the period. RTX makes up approximately 1.2% of Cadence Bank’s portfolio, making the stock its 17th biggest holding. Cadence Bank’s holdings in RTX were worth $18,033,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the third quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $120.62 on Wednesday. The company has a 50-day simple moving average of $122.16 and a 200-day simple moving average of $114.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $160.55 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70.

RTX (NYSE:RTX) last released its earnings results 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 net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given 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 yield of 2.09%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on RTX shares. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.