Aljian Capital Management LLC Purchases 5,219 Shares of RTX Co. (NYSE:RTX)

Aljian Capital Management LLC boosted its position in RTX Co. (NYSE:RTX - Free Report) by 31.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,631 shares of the company's stock after purchasing an additional 5,219 shares during the quarter. RTX comprises 0.6% of Aljian Capital Management LLC's holdings, making the stock its 23rd biggest position. Aljian Capital Management LLC's holdings in RTX were worth $2,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Briaud Financial Planning Inc increased its stake in shares of RTX by 64.1% during the second 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 period. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter worth about $41,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. StockNews.com upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Friday, September 6th. TD Cowen raised RTX to a "strong-buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Bank of America upgraded RTX from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $177.27.

RTX Stock Up 0.7 %

Shares of NYSE:RTX traded up $0.87 during midday trading on Monday, hitting $119.40. 4,462,299 shares of the stock were exchanged, compared to its average volume of 6,659,725. The business's fifty day simple moving average is $122.16 and its two-hundred day simple moving average is $113.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a market capitalization of $158.92 billion, a PE ratio of 34.11, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during 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 firm's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.11%. 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.