Cinctive Capital Management LP Makes New Investment in RTX Co. (NYSE:RTX)

Cinctive Capital Management LP bought a new position in RTX Co. (NYSE:RTX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,321 shares of the company’s stock, valued at approximately $2,583,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Coastwise Capital Group LLC boosted its stake in RTX by 4.9% during the 3rd quarter. Coastwise Capital Group LLC now owns 7,953 shares of the company’s stock worth $964,000 after purchasing an additional 373 shares during the last quarter. Ascent Group LLC grew its stake in shares of RTX by 487.1% in the third quarter. Ascent Group LLC now owns 14,671 shares of the company’s stock worth $1,778,000 after acquiring an additional 12,172 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of RTX by 729.7% in the third quarter. Benjamin Edwards Inc. now owns 80,803 shares of the company’s stock valued at $9,793,000 after acquiring an additional 71,064 shares in the last quarter. Kestra Investment Management LLC purchased a new position in RTX in the third quarter valued at $1,466,000. Finally, Point72 Hong Kong Ltd grew its stake in RTX by 83.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after purchasing an additional 37,671 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Down 2.6 %

NYSE RTX opened at $118.67 on Tuesday. 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 one year low of $79.67 and a one year high of $128.70. The company’s 50 day moving average price is $122.34 and its 200 day moving average price is $114.68. The firm has a market capitalization of $157.95 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.16 and a beta of 0.80.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.25 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

Wall Street Analyst Weigh In

RTX has been the subject of a number of analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Susquehanna raised their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Company 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.