West Michigan Advisors LLC Invests $211,000 in RTX Co. (NYSE:RTX)

West Michigan Advisors LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) in the third quarter, HoldingsChannel reports. The firm acquired 1,740 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Briaud Financial Planning Inc increased its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the second quarter valued at approximately $41,000. Finally, Stephens Consulting LLC boosted its holdings in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RTX shares. 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. Susquehanna upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $168.56.

Insider Activity

In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock valued at $17,131,253 over the last ninety days. 0.13% of the stock is currently owned by insiders.

RTX Stock Down 0.0 %

Shares of RTX stock opened at $125.16 on Friday. The stock’s fifty day moving average price is $121.74 and its 200 day moving average price is $111.28. 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 Co. has a 1-year low of $77.76 and a 1-year high of $128.70. The company has a market cap of $166.40 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly 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 return on equity of 11.96% and a net margin of 5.97%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, research analysts expect that RTX Co. will post 5.5 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s payout ratio is currently 98.82%.

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.