Harbour Investments Inc. Sells 3,132 Shares of RTX Co. (NYSE:RTX)

Harbour Investments Inc. decreased its position in RTX Co. (NYSE:RTX) by 13.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,623 shares of the company’s stock after selling 3,132 shares during the quarter. Harbour Investments Inc.’s holdings in RTX were worth $2,377,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter worth approximately $30,837,000. O Shaughnessy Asset Management LLC raised its stake in shares of RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of RTX during the 3rd quarter worth approximately $953,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after purchasing an additional 97,749 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. 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 company’s stock. According to data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX opened at $123.36 on Wednesday. The firm has a market cap of $164.19 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 2.20 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 debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business’s fifty day moving average is $122.16 and its 200-day moving average is $113.17.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. Sell-side analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 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.