Parthenon LLC Invests $269,000 in RTX Co. (NYSE:RTX)

Parthenon LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,217 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors have also recently modified their holdings of RTX. Briaud Financial Planning Inc grew its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX in the second quarter worth $32,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter valued at about $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the second quarter valued at about $41,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, UBS Group boosted their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Ten research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Up 0.1 %

RTX traded up $0.11 during trading on Wednesday, reaching $123.48. The stock had a trading volume of 364,792 shares, compared to its average volume of 6,659,705. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $164.35 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 2.20 and a beta of 0.82. The stock’s 50 day moving average is $122.16 and its two-hundred day moving average is $113.17. RTX Co. has a one year low of $78.00 and a one year high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a dividend yield of 2.04%. RTX’s payout ratio is currently 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.