Davidson Investment Advisors Sells 214 Shares of RTX Co. (NYSE:RTX)

Davidson Investment Advisors cut its stake in shares of RTX Co. (NYSE:RTX) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,503 shares of the company’s stock after selling 214 shares during the quarter. Davidson Investment Advisors’ holdings in RTX were worth $16,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Quarry LP acquired a new position in shares of RTX in the 1st quarter valued at about $28,000. True Wealth Design LLC acquired a new position in shares of RTX in the 4th quarter valued at about $47,000. Milestone Investment Advisors LLC acquired a new position in shares of RTX in the 1st quarter valued at about $51,000. Cascade Investment Advisors Inc. acquired a new position in shares of RTX in the 1st quarter valued at about $52,000. Finally, Bay Harbor Wealth Management LLC raised its stake in RTX by 30.4% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 643 shares of the company’s stock worth $63,000 after buying an additional 150 shares during the period. 79.06% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.47 during trading on Monday, hitting $79.21. 3,431,762 shares of the company were exchanged, compared to its average volume of 6,709,084. The company has a market cap of $113.90 billion, a PE ratio of 37.02, a P/E/G ratio of 1.72 and a beta of 0.96. The stock has a 50 day moving average of $76.15 and a 200 day moving average of $86.79. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.77.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. RTX had a return on equity of 10.05% and a net margin of 4.76%. The company had revenue of $19 billion for the quarter, compared to the consensus estimate of $18.60 billion. During the same quarter last year, the business posted $1.21 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that RTX Co. will post 5 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 17th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.36 dividend on an annualized basis and a yield of 2.98%. RTX’s payout ratio is 109.77%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RTX shares. Melius downgraded RTX from an “overweight” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research note on Monday, September 11th. Barclays lowered RTX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $75.00 in a report on Tuesday, September 12th. Argus lowered RTX from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Redburn Atlantic lowered RTX from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. reduced their target price on RTX from $100.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $90.21.

RTX Profile

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.