SK Wealth Management LLC Makes New $446,000 Investment in RTX Co. (NYSE:RTX)

SK Wealth Management LLC bought a new stake in RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,825 shares of the company’s stock, valued at approximately $446,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Elgethun Capital Management raised its stake in RTX by 3.8% in the second 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. Avestar Capital LLC raised its position in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC boosted its position in shares of RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares in the last quarter. Finally, Canal Capital Management LLC raised 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 valued at $515,000 after purchasing an additional 87 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE RTX traded down $1.11 during mid-day trading on Monday, hitting $115.60. The company had a trading volume of 1,189,968 shares, compared to its average volume of 6,400,560. The stock’s 50-day moving average price is $119.88 and its 200-day moving average price is $116.20. The company has a market capitalization of $153.87 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 2.08 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 1 year low of $83.96 and a 1 year high of $128.70.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.63 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. RTX’s payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised shares of RTX from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $130.00 to $140.00 in a research note on Thursday, December 19th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $177.93.

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.