Cable Hill Partners LLC Raises Stake in RTX Co. (NYSE:RTX)

Cable Hill Partners LLC increased its stake in RTX Co. (NYSE:RTX) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,968 shares of the company’s stock after buying an additional 1,209 shares during the period. Cable Hill Partners LLC’s holdings in RTX were worth $723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schrum Private Wealth Management LLC raised its stake in shares of RTX by 49.4% during the third quarter. Schrum Private Wealth Management LLC now owns 9,084 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,005 shares in the last quarter. Kovack Advisors Inc. raised its position in RTX by 0.4% during the 3rd quarter. Kovack Advisors Inc. now owns 42,268 shares of the company’s stock valued at $5,121,000 after purchasing an additional 152 shares in the last quarter. Parthenon LLC purchased a new stake in shares of RTX in the 3rd quarter worth $269,000. Parametrica Management Ltd bought a new position in shares of RTX during the 3rd quarter worth $426,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of RTX by 10.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 729,909 shares of the company’s stock valued at $88,436,000 after buying an additional 66,591 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $123.75 on Thursday. The stock has a market cap of $164.71 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.18 and a beta of 0.82. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a 50 day simple moving average of $122.21 and a two-hundred day simple moving average of $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 (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during 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%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Morgan Stanley upped their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.