Essential Planning LLC. Buys Shares of 1,786 RTX Co. (NYSE:RTX)

Essential Planning LLC. bought a new stake in RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,786 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX in the second quarter valued at approximately $32,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the third quarter valued at approximately $41,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at approximately $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $118.53 on Friday. 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 1 year low of $78.00 and a 1 year high of $128.70. The firm has a market cap of $157.77 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The stock has a 50-day simple moving average of $122.20 and a 200-day simple moving average of $113.47.

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

RTX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RTX. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. 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. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $177.27.

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.