Horizon Kinetics Asset Management LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Horizon Kinetics Asset Management LLC boosted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 64.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,618 shares of the company's stock after buying an additional 8,054 shares during the quarter. Horizon Kinetics Asset Management LLC's holdings in RTX were worth $2,498,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Napa Wealth Management bought a new position in RTX during the third quarter valued at $1,307,000. Manning & Napier Advisors LLC purchased a new stake in RTX in the 2nd quarter worth about $30,837,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $9,510,000 after purchasing an additional 11,354 shares during the period. Kennebec Savings Bank purchased a new stake in shares of RTX during the third quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company's stock worth $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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. TD Cowen upgraded shares of RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised shares of RTX from a "hold" rating to a "buy" rating in a report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.27.

RTX Stock Performance

Shares of RTX stock traded down $2.12 during trading hours on Monday, reaching $118.65. 8,321,934 shares of the stock traded hands, compared to its average volume of 6,623,552. RTX Co. has a one year low of $79.13 and a one year high of $128.70. The company has a 50 day moving average price of $122.16 and a 200 day moving average price of $114.26. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $157.93 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.14 and a beta of 0.82.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX's dividend 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.