Stock Yards Bank & Trust Co. Lowers Stock Position in RTX Co. (NYSE:RTX)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,683 shares of the company’s stock after selling 1,718 shares during the period. Stock Yards Bank & Trust Co.’s holdings in RTX were worth $2,991,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares in the last quarter. Legal & General Group Plc grew its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Ameriprise Financial Inc. increased its holdings in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of RTX by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after acquiring an additional 417,789 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Performance

RTX stock opened at $116.06 on Friday. The stock has a fifty day moving average price of $121.64 and a 200 day moving average price of $115.33. RTX Co. has a 52 week low of $79.67 and a 52 week high of $128.70. The firm has a market capitalization of $154.48 billion, a P/E ratio of 33.16, a PEG ratio of 2.07 and a beta of 0.80. 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 (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. RTX’s dividend payout ratio is presently 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.