Northwest Bancshares Inc. Invests $902,000 in RTX Co. (NYSE:RTX)

Northwest Bancshares Inc. bought a new position in RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,442 shares of the company’s stock, valued at approximately $902,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Elgethun Capital Management increased its holdings in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its holdings in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares in the last quarter. Canal Capital Management LLC increased its holdings in RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after purchasing an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its holdings in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. 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. Finally, Royal Bank of Canada upped their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $118.94 on Wednesday. The company has a market cap of $158.31 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The business has a 50 day moving average price of $122.13 and a 200-day moving average price of $113.81. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. Equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.