Franklin Resources Inc. Sells 1,924,488 Shares of RTX Co. (NYSE:RTX)

Franklin Resources Inc. lessened its holdings in RTX Co. (NYSE:RTX - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,008,182 shares of the company's stock after selling 1,924,488 shares during the period. Franklin Resources Inc. owned about 1.20% of RTX worth $1,995,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Marshall Wace LLP lifted its position in shares of RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company's stock worth $206,172,000 after purchasing an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company's stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company's stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company's stock worth $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company's stock valued at $118,309,000 after purchasing an additional 702,699 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a "strong-buy" rating in a research note on Tuesday, October 8th. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a report on Friday, September 6th. Wells Fargo & Company upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.27.

RTX Stock Performance

Shares of NYSE RTX traded up $1.70 during trading hours on Friday, reaching $117.75. The stock had a trading volume of 4,089,229 shares, compared to its average volume of 6,486,432. The company has a market cap of $156.73 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.07 and a beta of 0.80. RTX Co. has a twelve month low of $79.67 and a twelve month high of $128.70. The business's fifty day moving average is $121.64 and its two-hundred day moving average is $115.33. 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 posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, November 15th. RTX's dividend payout ratio is 72.00%.

About 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.