RTX Co. (NYSE:RTX) Shares Sold by Smart Portfolios LLC

Smart Portfolios LLC lowered its stake in RTX Co. (NYSE:RTX) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,754 shares of the company’s stock after selling 100 shares during the quarter. Smart Portfolios LLC’s holdings in RTX were worth $818,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of RTX. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC grew its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX traded up $2.01 during trading hours on Wednesday, reaching $120.99. 1,696,411 shares of the company’s stock traded hands, compared to its average volume of 6,688,974. The firm has a market capitalization of $161.04 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.09 and a beta of 0.82. The business’s fifty day simple moving average is $122.11 and its two-hundred day simple moving average is $112.42. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. 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 (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Susquehanna increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. 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 report on Wednesday, July 24th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Company 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.