D.B. Root & Company LLC Sells 2,325 Shares of RTX Co. (NYSE:RTX)

D.B. Root & Company LLC reduced its holdings in RTX Co. (NYSE:RTX) by 23.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,391 shares of the company’s stock after selling 2,325 shares during the quarter. D.B. Root & Company LLC’s holdings in RTX were worth $895,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RTX. Elgethun Capital Management lifted its stake in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its position in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares in the last quarter. Canal Capital Management LLC increased its position in RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after buying an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its position in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Ten 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $177.27.

RTX Price Performance

RTX stock opened at $121.59 on Thursday. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $122.13 and its 200 day simple moving average is $112.48. The company has a market cap of $161.83 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. RTX’s dividend payout ratio is currently 72.00%.

About RTX

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.