abrdn plc Lowers Stake in RTX Co. (NYSE:RTX)

abrdn plc lessened its stake in RTX Co. (NYSE:RTX) by 6.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 565,350 shares of the company’s stock after selling 40,440 shares during the quarter. abrdn plc’s holdings in RTX were worth $65,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in RTX during the 4th quarter worth $39,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter valued at $41,000. ORG Wealth Partners LLC purchased a new stake in shares of RTX in the 3rd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position 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 buying an additional 86 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $128.42 on Wednesday. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market cap of $170.93 billion, a PE ratio of 36.18, a P/E/G ratio of 2.17 and a beta of 0.82. The business has a 50-day simple moving average of $119.52 and a two-hundred day simple moving average of $119.77.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts expect that RTX Co. will post 6.12 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio (DPR) is 70.99%.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.07.

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.