Creative Planning Boosts Stake in RTX Co. (NYSE:RTX)

Creative Planning lifted its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 490,632 shares of the company’s stock after acquiring an additional 5,967 shares during the quarter. Creative Planning’s holdings in RTX were worth $59,445,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX during the 2nd quarter worth $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the 1st quarter worth about $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 0.1 %

RTX opened at $125.92 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 12 month low of $72.48 and a 12 month high of $127.00. The stock’s 50 day moving average price is $120.91 and its 200 day moving average price is $110.46. The stock has a market cap of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share. As a group, research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Ratings Changes

Several equities analysts have recently commented on RTX shares. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Citigroup raised their price target 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.