SCP Investment LP Sells 72,500 Shares of RTX Co. (NYSE:RTX)

SCP Investment LP lowered its stake in RTX Co. (NYSE:RTX - Free Report) by 96.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the company's stock after selling 72,500 shares during the period. SCP Investment LP's holdings in RTX were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter valued at about $29,000. Briaud Financial Planning Inc increased its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the 2nd quarter valued at $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.2 %

Shares of NYSE RTX traded up $0.18 during trading on Wednesday, reaching $119.14. 3,990,706 shares of the stock were exchanged, compared to its average volume of 6,638,949. The company has a market capitalization of $158.58 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The business's 50-day moving average price is $122.13 and its 200 day moving average price is $113.81. 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 Co. has a twelve month low of $78.00 and a twelve month high of $128.70.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Bank of America upgraded shares of RTX from a "neutral" rating to a "buy" rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 24th. Susquehanna raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company a "positive" rating in a research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $177.27.

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.