Tevis Investment Management Has $2.76 Million Stake in RTX Co. (NYSE:RTX)

Tevis Investment Management lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,810 shares of the company’s stock after selling 251 shares during the period. RTX makes up 2.0% of Tevis Investment Management’s investment portfolio, making the stock its 12th biggest holding. Tevis Investment Management’s holdings in RTX were worth $2,764,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Manning & Napier Advisors LLC acquired a new position in shares of RTX in the 2nd quarter valued at $30,837,000. O Shaughnessy Asset Management LLC lifted its stake in RTX by 126.9% during the first 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new position in shares of RTX in the 2nd quarter worth approximately $602,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.7 %

Shares of NYSE RTX opened at $121.93 on Thursday. The company’s 50 day simple moving average is $122.07 and its 200 day simple moving average is $111.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm has a market capitalization of $162.29 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the company posted $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.57 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RTX. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, 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 report on Wednesday, October 23rd. Ten research 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. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” 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.