Simmons Bank Sells 1,043 Shares of RTX Co. (NYSE:RTX)

Simmons Bank lowered its holdings in RTX Co. (NYSE:RTX) by 3.6% during the 3rd quarter, Holdings Channel reports. The firm owned 27,904 shares of the company’s stock after selling 1,043 shares during the period. Simmons Bank’s holdings in RTX were worth $3,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Briaud Financial Planning Inc grew its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the second quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the 2nd quarter valued at approximately $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $123.36 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $122.16 and a 200 day moving average of $113.17. The company has a market cap of $164.19 billion, a PE ratio of 35.25, a P/E/G ratio of 2.20 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 72.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. 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. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $177.27.

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.