Forum Financial Management LP Purchases 104 Shares of RTX Co. (NYSE:RTX)

Forum Financial Management LP lifted its holdings in RTX Co. (NYSE:RTX) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,424 shares of the company’s stock after buying an additional 104 shares during the period. Forum Financial Management LP’s holdings in RTX were worth $1,626,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of RTX in the 2nd quarter valued at approximately $30,837,000. O Shaughnessy Asset Management LLC boosted its stake in RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the period. Cetera Investment Advisers boosted its stake in shares of RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX in the second quarter worth about $602,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RTX. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded shares of 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. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $177.27.

RTX Trading Down 1.9 %

RTX stock opened at $118.75 on Monday. The stock has a 50-day moving average price of $122.13 and a 200 day moving average price of $112.09. The company has a market capitalization of $158.06 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. 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.