Independent Advisor Alliance Grows Stock Holdings in RTX Co. (NYSE:RTX)

Independent Advisor Alliance raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 38.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,916 shares of the company's stock after acquiring an additional 13,868 shares during the quarter. Independent Advisor Alliance's holdings in RTX were worth $6,048,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter worth about $29,000. Briaud Financial Planning Inc increased its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the 2nd quarter worth about $32,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of RTX in the 3rd quarter valued at approximately $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Alembic Global Advisors raised RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. 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 note on Thursday, October 10th. Bank of America upgraded shares of RTX from a "neutral" rating to a "buy" rating and increased their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.27.

RTX Price Performance

NYSE:RTX traded down $2.13 during trading hours on Monday, reaching $118.64. 3,386,390 shares of the company were exchanged, compared to its average volume of 6,603,438. The company has a market capitalization of $157.91 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.14 and a beta of 0.82. 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 business has a 50 day moving average of $122.17 and a 200 day moving average of $114.17. RTX Co. has a 1-year low of $79.13 and a 1-year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the firm earned $1.25 EPS. The business's quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX's dividend payout ratio (DPR) is presently 72.00%.

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.