Pinnacle Financial Partners Inc Acquires 442 Shares of RTX Co. (NYSE:RTX)

Pinnacle Financial Partners Inc raised its holdings in RTX Co. (NYSE:RTX) by 1.6% during the third quarter, Holdings Channel.com reports. The fund owned 28,496 shares of the company’s stock after purchasing an additional 442 shares during the period. Pinnacle Financial Partners Inc’s holdings in RTX were worth $3,453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RTX. Briaud Financial Planning Inc increased its holdings in 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 purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX during the second quarter valued at approximately $41,000. Finally, Western Pacific Wealth Management LP bought a new stake in RTX in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Trading Up 0.3 %

Shares of RTX stock opened at $123.75 on Thursday. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $122.21 and its 200-day moving average is $113.24. The stock has a market cap of $164.71 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results 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 firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.