Northwest Bancshares Inc. Acquires Shares of 7,442 RTX Co. (NYSE:RTX)

Northwest Bancshares Inc. acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,442 shares of the company's stock, valued at approximately $902,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Elgethun Capital Management lifted its holdings in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company's stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company's stock worth $62,000 after buying an additional 86 shares during the period. Blackston Financial Advisory Group LLC increased its position in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company's stock worth $291,000 after buying an additional 86 shares during the period. Canal Capital Management LLC increased its position in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company's stock worth $515,000 after buying an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC increased its position in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company's stock worth $1,518,000 after buying an additional 89 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 0.2 %

Shares of RTX stock traded down $0.20 on Wednesday, reaching $118.76. 1,748,828 shares of the stock were exchanged, compared to its average volume of 6,628,986. The stock has a market cap of $158.07 billion, a PE ratio of 33.98, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a one year low of $78.00 and a one year high of $128.70. 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 stock has a 50 day moving average price of $122.13 and a 200 day moving average price of $113.81.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping 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 company had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. RTX's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RTX shares. Alembic Global Advisors raised RTX from a "neutral" rating to an "overweight" rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 24th. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Barclays raised their price target on RTX from $108.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. 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 data from MarketBeat.com, RTX presently has a consensus rating of "Hold" and an average target price of $177.27.

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.