Turtle Creek Wealth Advisors LLC Buys 3,175 Shares of RTX Corporation $RTX

Turtle Creek Wealth Advisors LLC grew its stake in shares of RTX Corporation (NYSE:RTX) by 13.2% in the third quarter, HoldingsChannel.com reports. The fund owned 27,294 shares of the company’s stock after acquiring an additional 3,175 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in RTX were worth $4,567,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RTX. PFS Partners LLC lifted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after purchasing an additional 89 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of RTX in the 2nd quarter valued at approximately $29,000. Access Investment Management LLC bought a new stake in shares of RTX during the 2nd quarter worth approximately $31,000. SOA Wealth Advisors LLC. boosted its position in shares of RTX by 57.4% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 192 shares of the company’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Finally, Clayton Financial Group LLC bought a new position in RTX in the third quarter valued at approximately $36,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RTX. JPMorgan Chase & Co. upped their target price on RTX from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Susquehanna restated a “positive” rating and set a $230.00 price objective on shares of RTX in a research report on Thursday. Bank of America lifted their target price on RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Wall Street Zen downgraded RTX from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RTX in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average target price of $186.88.

RTX Trading Up 1.2%

Shares of RTX stock opened at $202.13 on Tuesday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $202.17. The stock’s fifty day simple moving average is $180.85 and its 200 day simple moving average is $167.49. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $271.01 billion, a P/E ratio of 41.51, a P/E/G ratio of 2.92 and a beta of 0.44.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. As a group, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, November 21st. RTX’s dividend payout ratio (DPR) is 55.85%.

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at $10,729,013.40. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

About RTX

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.