Franklin Street Advisors Inc. NC Raises Stock Holdings in RTX Co. (NYSE:RTX)

Franklin Street Advisors Inc. NC lifted its holdings in RTX Co. (NYSE:RTX) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,201 shares of the company’s stock after acquiring an additional 2,806 shares during the period. RTX accounts for about 1.5% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 23rd biggest holding. Franklin Street Advisors Inc. NC’s holdings in RTX were worth $21,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Capital Research Global Investors lifted its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors raised its holdings in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the period. Clearbridge Investments LLC raised its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc raised its holdings in shares of RTX by 4.4% in 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. Finally, Ameriprise Financial Inc. increased its holdings in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.1 %

RTX stock traded up $0.16 during midday trading on Friday, reaching $123.10. The company had a trading volume of 71,019 shares, compared to its average volume of 6,857,828. RTX Co. has a 1 year low of $72.29 and a 1 year high of $125.93. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $163.75 billion, a P/E ratio of 71.06, a PEG ratio of 2.20 and a beta of 0.82. The company has a 50 day moving average of $119.71 and a two-hundred day moving average of $109.20.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the firm earned $1.29 EPS. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.46 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 145.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Susquehanna lifted their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.50.

Insider Activity at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.