Harmony Asset Management LLC Increases Position in RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Harmony Asset Management LLC grew its holdings in shares of RTX Co. (NYSE:RTX – Free Report) by 1.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,576 shares of the company’s stock after buying an additional 291 shares during the quarter. RTX accounts for about 1.3% of Harmony Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Harmony Asset Management LLC’s holdings in RTX were worth $3,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lynx Investment Advisory acquired a new stake in RTX during the 2nd quarter worth $26,000. Park Avenue Securities LLC raised its holdings in RTX by 1.8% during the second quarter. Park Avenue Securities LLC now owns 40,625 shares of the company’s stock worth $4,078,000 after purchasing an additional 736 shares during the last quarter. Apella Capital LLC grew its stake in RTX by 9.5% in the 2nd quarter. Apella Capital LLC now owns 2,377 shares of the company’s stock worth $240,000 after acquiring an additional 206 shares during the period. Aprio Wealth Management LLC purchased a new stake in RTX during the second quarter worth approximately $259,000. Finally, Lantz Financial LLC boosted its stake in shares of RTX by 8.0% during the 2nd quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock valued at $277,000 after buying an additional 204 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RTX shares. Royal Bank of Canada lifted their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Susquehanna boosted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

Get Our Latest Stock Analysis on RTX

RTX Stock Performance

Shares of NYSE:RTX opened at $118.67 on Tuesday. The company’s 50 day simple moving average is $122.34 and its 200 day simple moving average is $114.68. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $157.95 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.80.

RTX (NYSE:RTX – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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

About RTX

(Free Report)

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.

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