Tandem Capital Management Corp ADV Raises Holdings in RTX Co. (NYSE:RTX)

Tandem Capital Management Corp ADV grew its stake in RTX Co. (NYSE:RTX) by 72.2% in the third quarter, Holdings Channel.com reports. The firm owned 6,866 shares of the company’s stock after acquiring an additional 2,879 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in RTX were worth $832,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RTX. Elgethun Capital Management raised its holdings in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its stake in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares during the period. Canal Capital Management LLC grew its stake in shares of RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC increased its stake in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RTX shares. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $168.56.

RTX Price Performance

RTX stock traded up $0.77 during trading on Friday, hitting $125.94. The stock had a trading volume of 107,630 shares, compared to its average volume of 6,729,812. RTX Co. has a 1-year low of $77.76 and a 1-year high of $128.70. The stock has a market cap of $167.44 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company’s 50 day moving average price is $121.59 and its two-hundred day moving average price is $111.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The business 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. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity

In related news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock valued at $17,131,253 in the last three months. Corporate insiders own 0.13% of the company’s stock.

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.