Counterweight Ventures LLC Raises Holdings in RTX Co. (NYSE:RTX)

Counterweight Ventures LLC boosted its position in shares of RTX Co. (NYSE:RTX) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,930 shares of the company’s stock after acquiring an additional 100 shares during the period. Counterweight Ventures LLC’s holdings in RTX were worth $476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its position in shares of RTX by 64.1% during the 2nd 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 approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter valued at about $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the second quarter valued at approximately $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 2.2 %

RTX opened at $122.00 on Tuesday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market capitalization of $162.38 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.10 and a beta of 0.82. The company has a fifty day moving average of $122.16 and a two-hundred day moving average of $113.68.

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. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, research analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Susquehanna raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price of $177.27.

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.