Orrstown Financial Services Inc. Has $1.33 Million Holdings in RTX Co. (NYSE:RTX)

Orrstown Financial Services Inc. boosted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 129.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,965 shares of the company's stock after purchasing an additional 6,185 shares during the period. Orrstown Financial Services Inc.'s holdings in RTX were worth $1,329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elgethun Capital Management lifted its position in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company's stock worth $233,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company's stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC lifted its holdings in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company's stock worth $291,000 after purchasing an additional 86 shares during the last quarter. Canal Capital Management LLC boosted its position in RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company's stock worth $515,000 after purchasing an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its holdings in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company's stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX traded down $2.64 on Tuesday, hitting $122.79. The company's stock had a trading volume of 4,975,932 shares, compared to its average volume of 6,733,405. The company has a 50 day moving average price of $121.98 and a 200 day moving average price of $111.75. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70. The company has a market capitalization of $163.44 billion, a PE ratio of 48.15, a PEG ratio of 2.17 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.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts' expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company 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 $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 2.05%. RTX's dividend payout ratio (DPR) is currently 98.82%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RTX. Citigroup upped their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. TD Cowen upgraded RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. Susquehanna upped their price target on RTX from $140.00 to $150.00 and gave the stock a "positive" rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of RTX from a "hold" rating to a "buy" rating in a research note on Friday, September 6th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $177.27.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company's stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.