Thrivent Financial for Lutherans Sells 30,431 Shares of RTX Co. (NYSE:RTX)

Thrivent Financial for Lutherans trimmed its position in RTX Co. (NYSE:RTX - Free Report) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,484 shares of the company's stock after selling 30,431 shares during the period. Thrivent Financial for Lutherans' holdings in RTX were worth $31,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Bridge Advisors increased its holdings in shares of RTX by 0.8% during the 3rd quarter. Tower Bridge Advisors now owns 104,542 shares of the company's stock valued at $12,666,000 after acquiring an additional 876 shares during the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of RTX by 1.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 5,826 shares of the company's stock worth $706,000 after acquiring an additional 89 shares during the period. Turtle Creek Wealth Advisors LLC grew its stake in shares of RTX by 3.2% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 12,121 shares of the company's stock valued at $1,469,000 after purchasing an additional 373 shares during the period. KPP Advisory Services LLC increased its position in shares of RTX by 4.9% during the 3rd quarter. KPP Advisory Services LLC now owns 5,459 shares of the company's stock worth $661,000 after purchasing an additional 256 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in RTX during the 3rd quarter valued at $250,000. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna increased 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 boosted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. StockNews.com upgraded RTX from a "hold" rating to a "buy" rating in a report on Friday, September 6th. TD Cowen raised shares of RTX to a "strong-buy" rating in a research report on Tuesday, October 8th. Finally, Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Nine 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $177.27.

RTX Trading Up 0.2 %

Shares of NYSE:RTX traded up $0.19 on Wednesday, hitting $119.15. The company had a trading volume of 3,816,036 shares, compared to its average volume of 6,633,415. The firm has a market capitalization of $158.59 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm's 50-day simple moving average is $122.13 and its two-hundred day simple moving average is $113.81. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $20.09 billion for the quarter, compared to analysts' expectations of $19.84 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The business's revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.11%. RTX's dividend payout ratio is presently 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.