Sompo Asset Management Co. Ltd. Sells 580 Shares of RTX Co. (NYSE:RTX)

Sompo Asset Management Co. Ltd. reduced its stake in shares of RTX Co. (NYSE:RTX) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,430 shares of the company’s stock after selling 580 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in RTX were worth $779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elgethun Capital Management lifted its stake in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position 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 buying an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC boosted its stake 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 buying an additional 86 shares during the period. Canal Capital Management LLC grew its position in RTX by 2.1% during 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 in the last quarter. Finally, Alpha Omega Wealth Management LLC increased its stake in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.2 %

Shares of RTX stock opened at $120.77 on Friday. The company’s 50 day moving average price is $122.17 and its 200-day moving average price is $114.09. RTX Co. has a 52-week low of $79.13 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 stock has a market capitalization of $160.75 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.27.

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.