Planning Capital Management Corp Cuts Position in RTX Co. (NYSE:RTX)

Planning Capital Management Corp trimmed its position in shares of RTX Co. (NYSE:RTX) by 22.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 665 shares of the company’s stock after selling 190 shares during the period. Planning Capital Management Corp’s holdings in RTX were worth $81,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of RTX in the first quarter valued at approximately $730,000. Kingsview Wealth Management LLC lifted its holdings in shares of RTX by 1.6% during the first quarter. Kingsview Wealth Management LLC now owns 26,354 shares of the company’s stock worth $2,570,000 after purchasing an additional 416 shares during the period. Leo Wealth LLC lifted its holdings in shares of RTX by 14.2% during the first quarter. Leo Wealth LLC now owns 4,786 shares of the company’s stock worth $468,000 after purchasing an additional 596 shares during the period. Fidelity National Financial Inc. lifted its holdings in shares of RTX by 100.0% during the first quarter. Fidelity National Financial Inc. now owns 100,000 shares of the company’s stock worth $9,753,000 after purchasing an additional 50,000 shares during the period. Finally, Motco lifted its holdings in shares of RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after purchasing an additional 99 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RTX shares. Melius Research increased their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Trading Up 0.3 %

Shares of RTX stock opened at $123.75 on Thursday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The stock has a market cap of $164.71 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.18 and a beta of 0.82. The business has a fifty day simple moving average of $122.21 and a 200-day simple moving average of $113.24. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

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. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. On average, analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. 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.