Thompson Siegel & Walmsley LLC lowered its stake in RTX Co. (NYSE:RTX – Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,714 shares of the company’s stock after selling 10,908 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in RTX were worth $12,119,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisor L.P raised its position in RTX by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after purchasing an additional 156,550 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in RTX by 9.2% in the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after acquiring an additional 931 shares during the period. Ironwood Wealth Management LLC. boosted its holdings in RTX by 1.2% in the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock valued at $1,066,000 after acquiring an additional 128 shares in the last quarter. AMI Investment Management Inc. increased its position in RTX by 53.1% during the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after purchasing an additional 12,316 shares during the period. Finally, LSV Asset Management raised its holdings in RTX by 1.4% in the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.
Analysts Set New Price Targets
RTX has been the topic of several research analyst reports. TD Cowen reduced their price target on shares of RTX from $109.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 12th. Deutsche Bank Aktiengesellschaft lowered RTX from a “hold” rating to a “sell” rating and lowered their price target for the stock from $79.00 to $68.00 in a research report on Friday, October 27th. Alembic Global Advisors started coverage on shares of RTX in a report on Friday, September 29th. They set a “neutral” rating and a $81.00 price target on the stock. TheStreet lowered shares of RTX from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. Finally, Morgan Stanley increased their target price on RTX from $83.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.21.
RTX Stock Performance
Shares of RTX stock traded down $0.55 on Friday, hitting $79.68. 7,894,702 shares of the company’s stock were exchanged, compared to its average volume of 14,992,126. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. The stock has a market capitalization of $114.57 billion, a PE ratio of 37.06, a PEG ratio of 1.72 and a beta of 0.96. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.84. The company has a 50-day simple moving average of $76.15 and a 200-day simple moving average of $86.95.
RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.19 by $0.06. The firm had revenue of $19 billion for the quarter, compared to the consensus estimate of $18.60 billion. RTX had a return on equity of 10.05% and a net margin of 4.76%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5 EPS for the current year.
RTX Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 17th will be paid a $0.59 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.96%. RTX’s dividend payout ratio (DPR) is presently 109.77%.
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations.
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