Advisors Asset Management Inc. Cuts Position in RTX Co. (NYSE:RTX)

Advisors Asset Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 16.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,538 shares of the company's stock after selling 25,435 shares during the quarter. Advisors Asset Management Inc.'s holdings in RTX were worth $15,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Napa Wealth Management bought a new stake in shares of RTX in the 3rd quarter valued at about $1,307,000. Manning & Napier Advisors LLC acquired a new position in shares of RTX during the 2nd quarter valued at $30,837,000. Mirae Asset Global Investments Co. Ltd. increased its stake in RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company's stock valued at $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of RTX in the 3rd quarter valued at about $953,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company's stock valued at $44,250,000 after acquiring an additional 97,749 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RTX shares. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Bank of America raised RTX from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $177.27.

RTX Trading Up 0.2 %

NYSE:RTX traded up $0.18 during trading hours on Wednesday, reaching $119.14. The company's stock had a trading volume of 3,990,706 shares, compared to its average volume of 6,638,949. The firm has a 50-day simple moving average of $122.13 and a 200-day simple moving average of $113.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The firm has a market capitalization of $158.58 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping 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 company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the business posted $1.25 earnings per share. RTX's revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is currently 72.00%.

RTX Company Profile

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.