ORG Wealth Partners LLC Makes New Investment in RTX Co. (NYSE:RTX)

ORG Wealth Partners LLC purchased a new stake in RTX Co. (NYSE:RTX) during the third quarter, Holdings Channel reports. The institutional investor purchased 416 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX in the second quarter valued at $41,000. Finally, Alaska Permanent Fund Corp purchased a new stake in RTX during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $162.50.

RTX Trading Up 0.2 %

NYSE RTX opened at $124.92 on Wednesday. The company’s fifty day simple moving average is $120.26 and its 200-day simple moving average is $109.96. The stock has a market cap of $166.08 billion, a P/E ratio of 48.99, a PEG ratio of 2.18 and a beta of 0.82. RTX Co. has a 52 week low of $72.48 and a 52 week high of $126.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. 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.