Neo Ivy Capital Management Makes New $1.69 Million Investment in RTX Co. (NYSE:RTX)

Neo Ivy Capital Management bought a new position in RTX Co. (NYSE:RTX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,946 shares of the company's stock, valued at approximately $1,690,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX during the third quarter worth approximately $29,000. Briaud Financial Planning Inc boosted its holdings in shares of 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 purchasing an additional 100 shares during the period. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter valued at approximately $32,000. Western Pacific Wealth Management LP bought a new position in RTX during the third quarter valued at approximately $41,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at approximately $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Down 0.6 %

Shares of RTX stock traded down $0.70 on Wednesday, reaching $116.91. The company had a trading volume of 1,850,267 shares, compared to its average volume of 6,497,033. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $121.93 and a 200-day moving average of $115.31. RTX Co. has a 12 month low of $79.67 and a 12 month high of $128.70. The stock has a market cap of $155.61 billion, a PE ratio of 33.61, a PEG ratio of 2.09 and a beta of 0.80.

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, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. RTX's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. RTX's dividend payout ratio is presently 72.00%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RTX. Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. StockNews.com raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Friday, September 6th. TD Cowen raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "sell" rating to a "hold" rating and raised their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. 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. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.