Chronos Wealth Management LLC Increases Stake in RTX Co. (NYSE:RTX)

Chronos Wealth Management LLC raised its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,714 shares of the company’s stock after acquiring an additional 980 shares during the quarter. RTX makes up 1.8% of Chronos Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Chronos Wealth Management LLC’s holdings in RTX were worth $2,642,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Quarry LP bought a new stake in RTX during the first quarter valued at about $28,000. VitalStone Financial LLC grew its stake in shares of RTX by 136.5% during the 2nd quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. True Wealth Design LLC purchased a new stake in RTX in the 4th quarter worth approximately $47,000. Milestone Investment Advisors LLC bought a new stake in RTX during the 1st quarter worth approximately $51,000. Finally, Rise Advisors LLC lifted its holdings in RTX by 122.4% during the third quarter. Rise Advisors LLC now owns 734 shares of the company’s stock valued at $53,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Bank of America downgraded shares of RTX from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $95.00 to $75.00 in a research report on Thursday, September 14th. Wells Fargo & Company lowered their price objective on RTX from $100.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Monday, September 18th. TheStreet cut RTX from a “b-” rating to a “c” rating in a research report on Tuesday, October 24th. Morgan Stanley boosted their price target on RTX from $83.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 25th. Finally, TD Cowen cut their price objective on shares of RTX from $109.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus target price of $90.21.

Get Our Latest Report on RTX

RTX Trading Up 0.3 %

RTX traded up $0.23 on Thursday, hitting $84.40. The company had a trading volume of 2,864,504 shares, compared to its average volume of 6,784,839. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.84. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $80.82 and its 200 day simple moving average is $84.10. The company has a market cap of $121.36 billion, a PE ratio of 39.15, a PEG ratio of 1.80 and a beta of 0.93.

RTX (NYSE:RTXGet Free Report) last announced its earnings results on Tuesday, October 24th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. The firm had revenue of $19 billion during the quarter, compared to analysts’ expectations of $18.60 billion. RTX had a return on equity of 10.05% and a net margin of 4.76%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. Equities research analysts expect that RTX Co. will post 5 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Friday, November 17th were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.36 annualized dividend and a dividend yield of 2.80%. RTX’s dividend payout ratio (DPR) is presently 109.77%.

RTX Company Profile

(Free Report)

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.

Further Reading

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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