Portfolio Design Labs LLC Makes New $1.91 Million Investment in RTX Co. (NYSE:RTX)

Portfolio Design Labs LLC acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,777 shares of the company's stock, valued at approximately $1,912,000.

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

RTX Stock Up 0.2 %

Shares of RTX traded up $0.18 during midday trading on Wednesday, hitting $119.14. The company had a trading volume of 3,990,706 shares, compared to its average volume of 6,638,949. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. 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 stock has a market cap of $158.58 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. The company's 50 day moving average price is $122.13 and its 200 day moving average price is $113.81.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly 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 company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business earned $1.25 earnings per share. RTX's revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX's payout ratio is 72.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Susquehanna upped their target price on RTX from $140.00 to $150.00 and gave the company a "positive" rating in a report on Wednesday, October 23rd. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 24th. 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. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.