Townsend & Associates Inc Has $22.30 Million Holdings in RTX Co. (NYSE:RTX)

Townsend & Associates Inc boosted its holdings in shares of RTX Co. (NYSE:RTX) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,282 shares of the company’s stock after purchasing an additional 2,573 shares during the period. RTX accounts for approximately 2.3% of Townsend & Associates Inc’s holdings, making the stock its 14th largest holding. Townsend & Associates Inc’s holdings in RTX were worth $22,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the 2nd 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 bought a new stake in shares of RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RTX. UBS Group boosted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 2.9 %

NYSE RTX opened at $123.55 on Friday. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $122.08 and a 200-day moving average of $112.69. The company has a market cap of $164.45 billion, a PE ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 72.00%.

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.