Eastern Bank boosted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 699.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,267 shares of the company's stock after acquiring an additional 34,358 shares during the quarter. Eastern Bank's holdings in RTX were worth $4,758,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc raised its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX during the 2nd quarter worth about $41,000. Finally, ORG Wealth Partners LLC bought a new position in RTX during the 3rd quarter valued at about $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RTX stock opened at $125.54 on Wednesday. The company has a market cap of $166.91 billion, a P/E ratio of 49.23, a PEG ratio of 2.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock's 50-day moving average is $121.09 and its 200 day moving average is $110.74. RTX Co. has a 1-year low of $72.52 and a 1-year high of $128.70.
RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. Research analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.
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 issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX's dividend payout ratio (DPR) is currently 98.82%.
In other news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the company's stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.
Several analysts have issued reports on the stock. TD Cowen upgraded RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on RTX from $102.00 to $115.00 and gave the company a "sector perform" rating in a report on Friday, July 26th. Alembic Global Advisors upgraded RTX from a "neutral" rating to an "overweight" rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Bank of America raised shares of RTX from a "neutral" rating to a "buy" rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $162.50.
View Our Latest Stock Report on 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.
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