Walter & Keenan Wealth Management LLC IN ADV Sells 4,980 Shares of RTX Co. (NYSE:RTX)

Walter & Keenan Wealth Management LLC IN ADV reduced its stake in RTX Co. (NYSE:RTX) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,019 shares of the company’s stock after selling 4,980 shares during the period. RTX makes up 1.1% of Walter & Keenan Wealth Management LLC IN ADV’s portfolio, making the stock its 23rd biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in RTX were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Elgethun Capital Management lifted its holdings in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC increased its position in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the last quarter. Canal Capital Management LLC boosted its holdings in shares of RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after buying an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its stake in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Ten research 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, the company currently has an average rating of “Hold” and an average target price of $177.27.

RTX Trading Down 2.1 %

Shares of NYSE:RTX opened at $122.79 on Wednesday. The company has a market capitalization of $163.44 billion, a PE ratio of 48.15, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12-month low of $77.76 and a 12-month high of $128.70. The business’s fifty day simple moving average is $121.98 and its 200-day simple moving average is $111.75.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

RTX Profile

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.