Camden National Bank Acquires Shares of 2,610 RTX Co. (NYSE:RTX)

Camden National Bank bought a new stake in RTX Co. (NYSE:RTX) during the third quarter, Holdings Channel reports. The institutional investor bought 2,610 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stonebrook Private Inc. purchased a new position in shares of RTX in the 3rd quarter valued at approximately $229,000. Financial Council LLC acquired a new stake in shares of RTX during the third quarter worth $239,000. Nwam LLC purchased a new position in RTX in the 3rd quarter valued at $1,633,000. Meridian Wealth Management LLC acquired a new position in RTX in the 3rd quarter valued at $7,754,000. Finally, GM Advisory Group LLC raised its position in RTX by 5.7% during the 3rd quarter. GM Advisory Group LLC now owns 3,782 shares of the company’s stock worth $458,000 after buying an additional 205 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RTX. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

Shares of RTX opened at $120.77 on Friday. RTX Co. has a 12-month low of $79.13 and a 12-month high of $128.70. The stock has a market cap of $160.75 billion, a P/E ratio of 34.51, a PEG ratio of 2.13 and a beta of 0.82. 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 50-day moving average of $122.17 and a two-hundred day moving average of $114.02.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 firm 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%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. As a group, research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

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.