Saratoga Research & Investment Management Sells 67,926 Shares of RTX Co. (NYSE:RTX)

Saratoga Research & Investment Management lessened its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,459,106 shares of the company's stock after selling 67,926 shares during the quarter. RTX accounts for 7.7% of Saratoga Research & Investment Management's portfolio, making the stock its largest position. Saratoga Research & Investment Management owned 0.11% of RTX worth $176,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elgethun Capital Management raised its stake in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company's stock valued at $233,000 after acquiring an additional 85 shares in the last quarter. Avestar Capital LLC raised its position in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company's stock valued at $1,752,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company's stock worth $62,000 after purchasing an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC raised its stake in shares of RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company's stock valued at $291,000 after buying an additional 86 shares in the last quarter. Finally, Canal Capital Management LLC lifted its stake in RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company's stock worth $515,000 after purchasing an additional 87 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Stock Down 0.8 %

Shares of RTX stock traded down $0.89 during trading on Thursday, reaching $116.05. The company's stock had a trading volume of 3,812,698 shares, compared to its average volume of 6,496,271. The company has a market cap of $154.46 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80. RTX Co. has a one year low of $79.67 and a one year high of $128.70. The business has a fifty day moving average price of $121.79 and a 200-day moving average price of $115.32. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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 paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is currently 72.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price 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. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the company a "sector perform" 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 boosted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. UBS Group increased their target price on RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Citigroup increased their target price on shares of RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.