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, according to the company in its most recent disclosure with the SEC. The firm acquired 1,740 shares of the company’s stock, valued at approximately $211,000.

A number of other large investors have also added to or reduced their stakes in the stock. Harbour Trust & Investment Management Co raised its holdings in RTX by 0.5% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 89,164 shares of the company’s stock worth $10,803,000 after acquiring an additional 478 shares during the last quarter. Schmidt P J Investment Management Inc. raised its position in RTX by 4.3% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,266 shares of the company’s stock worth $275,000 after buying an additional 94 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in RTX by 11.3% during the 3rd quarter. Legacy Capital Group California Inc. now owns 7,683 shares of the company’s stock valued at $931,000 after acquiring an additional 778 shares during the period. Dakota Wealth Management boosted its holdings in shares of RTX by 1.3% during the 3rd quarter. Dakota Wealth Management now owns 32,410 shares of the company’s stock valued at $3,927,000 after acquiring an additional 430 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of RTX by 18.7% during the third quarter. Assenagon Asset Management S.A. now owns 383,950 shares of the company’s stock valued at $46,519,000 after purchasing an additional 60,393 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Melius Research raised their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $168.56.

RTX Price Performance

RTX stock opened at $125.16 on Friday. The company has a market capitalization of $166.40 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company’s fifty day moving average price is $121.74 and its 200-day moving average price is $111.28. RTX Co. has a one year low of $77.76 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued 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 dividend payout ratio (DPR) is 98.82%.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is currently owned by insiders.

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.