Napa Wealth Management Makes New Investment in RTX Co. (NYSE:RTX)

Napa Wealth Management purchased a new stake in shares of RTX Co. (NYSE:RTX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 10,789 shares of the company’s stock, valued at approximately $1,307,000.

Several other institutional investors have also modified their holdings of the company. Briaud Financial Planning Inc raised its position in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX during the second quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in RTX in the third quarter worth approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Morgan Stanley boosted 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. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $177.27.

RTX Trading Down 0.3 %

RTX stock opened at $118.53 on Monday. The stock has a market cap of $157.77 billion, a P/E ratio of 33.87, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company’s fifty day simple moving average is $122.20 and its 200-day simple moving average is $113.56.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed 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 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 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.