Verity & Verity LLC lessened its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,113 shares of the company's stock after selling 26,389 shares during the period. RTX accounts for approximately 2.7% of Verity & Verity LLC's holdings, making the stock its 8th biggest position. Verity & Verity LLC's holdings in RTX were worth $27,275,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter valued at $29,000. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company's stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at about $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX in the third quarter worth about $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RTX shares. The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised RTX from a "sell" rating to a "hold" rating and upped their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. TD Cowen upgraded RTX to a "strong-buy" rating in a report on Tuesday, October 8th. Bank of America upgraded shares of RTX from a "neutral" rating to a "buy" rating and upped their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Robert W. Baird boosted their price objective on shares of RTX from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $177.27.
View Our Latest Report on RTX
RTX Price Performance
Shares of RTX stock traded down $0.45 on Tuesday, hitting $118.94. 4,652,234 shares of the company traded hands, compared to its average volume of 6,650,107. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business has a 50-day simple moving average of $122.13 and a 200 day simple moving average of $113.81. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The stock has a market capitalization of $158.31 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.
RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. RTX's revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.
RTX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX's dividend payout ratio is presently 72.00%.
RTX Profile
(
Free Report)
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.
Further Reading
Before you consider RTX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RTX wasn't on the list.
While RTX currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
