Horizon Kinetics Asset Management LLC Has $2.50 Million Stock Position in RTX Co. (NYSE:RTX)

Horizon Kinetics Asset Management LLC increased its stake in RTX Co. (NYSE:RTX) by 64.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,618 shares of the company’s stock after buying an additional 8,054 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in RTX were worth $2,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RTX. Briaud Financial Planning Inc grew its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX during the second quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in RTX in the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at approximately $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth approximately $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

RTX opened at $119.69 on Monday. 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 Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The firm has a market cap of $159.31 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. The business’s fifty day moving average is $122.17 and its 200-day moving average is $114.17.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for 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 for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Sell-side analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 72.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RTX shares. Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. UBS Group lifted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Eight 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.27.

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.