Napa Wealth Management Buys Shares of 10,789 RTX Co. (NYSE:RTX)

Napa Wealth Management purchased a new stake in RTX Co. (NYSE:RTX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,789 shares of the company's stock, valued at approximately $1,307,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Manning & Napier Advisors LLC acquired a new stake in shares of RTX in the second quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC raised its holdings 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company's stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of RTX during the 3rd quarter worth approximately $953,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of RTX by 36.5% in 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 in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.7 %

Shares of NYSE:RTX traded up $0.86 during trading on Monday, hitting $119.39. 4,432,815 shares of the company were exchanged, compared to its average volume of 6,659,594. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm's 50 day moving average price is $122.20 and its 200-day moving average price is $113.56. The stock has a market capitalization of $158.91 billion, a P/E ratio of 34.17, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.11%. RTX's dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a "sell" rating to a "hold" rating and lifted their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $115.00 to $130.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, RTX currently has a consensus rating of "Hold" and an average price target 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.