Northern Financial Advisors Inc Boosts Stake in RTX Co. (NYSE:RTX)

Northern Financial Advisors Inc lifted its position in shares of RTX Co. (NYSE:RTX) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,535 shares of the company’s stock after acquiring an additional 911 shares during the quarter. Northern Financial Advisors Inc’s holdings in RTX were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its position in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors raised its position in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of RTX by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Legal & General Group Plc raised its position in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE:RTX opened at $118.75 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $158.06 billion, a P/E ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. The company has a 50 day moving average price of $122.13 and a 200 day moving average price of $112.02. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.12%. RTX’s dividend payout ratio is presently 72.00%.

Analysts Set New Price Targets

A number of analysts have commented on RTX shares. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.27.

RTX 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.