Quantum Private Wealth LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Quantum Private Wealth LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,606 shares of the company’s stock after selling 2,028 shares during the quarter. Quantum Private Wealth LLC’s holdings in RTX were worth $1,406,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts have commented on RTX shares. Royal Bank of Canada increased their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Up 0.8 %

Shares of RTX opened at $121.06 on Friday. 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 $78.00 and a 12 month high of $128.70. The stock’s 50 day moving average is $122.08 and its two-hundred day moving average is $112.54. The firm has a market cap of $161.13 billion, a P/E ratio of 34.31, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last issued 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 company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company earned $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

RTX Company 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.