Connable Office Inc. Sells 8,684 Shares of RTX Co. (NYSE:RTX)

Connable Office Inc. lowered its stake in RTX Co. (NYSE:RTX - Free Report) by 25.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,654 shares of the company's stock after selling 8,684 shares during the quarter. Connable Office Inc.'s holdings in RTX were worth $3,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Capital Research Global Investors raised its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company's stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors raised its holdings in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company's stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company's stock worth $1,066,847,000 after purchasing an additional 213,331 shares in the last quarter. Legal & General Group Plc lifted its position in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company's stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company's stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

RTX stock traded up $0.23 during midday trading on Friday, hitting $118.53. The company's stock had a trading volume of 6,969,270 shares, compared to its average volume of 6,669,619. The company has a 50-day moving average price of $122.20 and a two-hundred day moving average price of $113.28. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70. The company has a market cap of $157.76 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX's dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird increased their price objective 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. Susquehanna raised their price target on RTX from $140.00 to $150.00 and gave the company a "positive" rating in a research note on Wednesday, October 23rd. Bank of America upgraded RTX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Finally, Alembic Global Advisors upgraded shares of RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, RTX currently has an average rating of "Hold" and an average price target of $177.27.

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.