RTX Co. (NYSE:RTX) Shares Bought by Harmony Asset Management LLC

Harmony Asset Management LLC lifted its stake in shares of RTX Co. (NYSE:RTX) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,576 shares of the company’s stock after purchasing an additional 291 shares during the quarter. RTX comprises about 1.3% of Harmony Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Harmony Asset Management LLC’s holdings in RTX were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth approximately $26,000. Park Avenue Securities LLC boosted its position in RTX by 1.8% in the second quarter. Park Avenue Securities LLC now owns 40,625 shares of the company’s stock valued at $4,078,000 after buying an additional 736 shares in the last quarter. Apella Capital LLC lifted its position in RTX by 9.5% during the 2nd quarter. Apella Capital LLC now owns 2,377 shares of the company’s stock valued at $240,000 after purchasing an additional 206 shares during the period. Aprio Wealth Management LLC acquired a new stake in RTX during the 2nd quarter worth approximately $259,000. Finally, Lantz Financial LLC raised its holdings in RTX by 8.0% during the second quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock worth $277,000 after buying an additional 204 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 2.6 %

RTX stock opened at $118.67 on Tuesday. 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 stock has a market cap of $157.95 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.80. The firm’s 50-day simple moving average is $122.34 and its 200 day simple moving average is $114.68. RTX Co. has a fifty-two week low of $79.67 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict 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 paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RTX. Royal Bank of Canada increased their price objective on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.