D.A. Davidson & CO. Raises Stock Holdings in RTX Co. (NYSE:RTX)

D.A. Davidson & CO. raised its stake in RTX Co. (NYSE:RTX) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 780,464 shares of the company’s stock after buying an additional 11,094 shares during the quarter. RTX accounts for 0.8% of D.A. Davidson & CO.’s investment portfolio, making the stock its 23rd biggest holding. D.A. Davidson & CO.’s holdings in RTX were worth $94,561,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Elgethun Capital Management grew its position in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its position in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the last quarter. Canal Capital Management LLC raised its holdings in shares of RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC lifted its position in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of a number of analyst reports. Susquehanna raised their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Down 1.8 %

RTX opened at $118.65 on Tuesday. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70. The business has a 50 day moving average price of $122.16 and a two-hundred day moving average price of $114.26. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $157.93 billion, a PE ratio of 33.90, a P/E/G ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly 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 return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio 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.