Quantbot Technologies LP Purchases New Position in RTX Co. (NYSE:RTX)

Quantbot Technologies LP acquired a new stake in shares of RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,344 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new position in RTX during the second quarter worth $26,000. Park Avenue Securities LLC increased its holdings in RTX by 1.8% during the second quarter. Park Avenue Securities LLC now owns 40,625 shares of the company’s stock worth $4,078,000 after buying an additional 736 shares during the last quarter. Aprio Wealth Management LLC acquired a new stake in RTX in the second quarter valued at $259,000. Lantz Financial LLC increased its stake in shares of RTX by 8.0% during the 2nd quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock worth $277,000 after purchasing an additional 204 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of RTX by 2.5% during the second quarter. Simplicity Wealth LLC now owns 48,110 shares of the company’s stock worth $4,830,000 after buying an additional 1,194 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.5 %

Shares of NYSE RTX opened at $118.09 on Wednesday. The firm has a market cap of $157.18 billion, a PE ratio of 33.80, a P/E/G ratio of 2.10 and a beta of 0.80. The company’s fifty day simple moving average is $122.31 and its 200 day simple moving average is $114.78. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 12-month low of $79.67 and a 12-month high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

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.