Cary Street Partners Asset Management LLC Has $3.76 Million Position in RTX Co. (NYSE:RTX)

Cary Street Partners Asset Management LLC reduced its stake in RTX Co. (NYSE:RTX) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,020 shares of the company’s stock after selling 410 shares during the period. Cary Street Partners Asset Management LLC’s holdings in RTX were worth $3,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Capital Research Global Investors grew its stake in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors grew its stake in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares in the last quarter. Legal & General Group Plc grew its stake in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RTX shares. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $118.00 on Tuesday. The company has a market cap of $157.06 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. 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 has a 50 day moving average of $122.13 and a 200-day moving average of $112.17.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

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.