Tower Bridge Advisors Buys 876 Shares of RTX Co. (NYSE:RTX)

Tower Bridge Advisors boosted its holdings in shares of RTX Co. (NYSE:RTX) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,542 shares of the company’s stock after buying an additional 876 shares during the period. RTX comprises 1.3% of Tower Bridge Advisors’ portfolio, making the stock its 23rd largest holding. Tower Bridge Advisors’ holdings in RTX were worth $12,666,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in shares of RTX in the second quarter valued at $30,837,000. O Shaughnessy Asset Management LLC increased its position in RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after acquiring an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of RTX during the third quarter worth approximately $953,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock opened at $118.53 on Friday. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70. The business’s 50-day moving average price is $122.20 and its two-hundred day moving average price is $113.47. The firm has a market cap of $157.77 billion, a PE ratio of 33.87, a P/E/G ratio of 2.10 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.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business posted $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RTX shares. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $177.27.

RTX Company 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.