RTX Co. (NYSE:RTX) Shares Sold by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,177 shares of the company’s stock after selling 174 shares during the period. Acorn Wealth Advisors LLC’s holdings in RTX were worth $627,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Associated Banc Corp increased its holdings in RTX by 0.9% during the 3rd quarter. Associated Banc Corp now owns 353,791 shares of the company’s stock valued at $42,865,000 after acquiring an additional 3,137 shares in the last quarter. Private Trust Co. NA lifted its position in shares of RTX by 5.5% in the third quarter. Private Trust Co. NA now owns 33,677 shares of the company’s stock valued at $4,080,000 after acquiring an additional 1,768 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in RTX by 64.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 20,618 shares of the company’s stock worth $2,498,000 after purchasing an additional 8,054 shares in the last quarter. Diversified LLC boosted its stake in shares of RTX by 5.5% during the 3rd quarter. Diversified LLC now owns 2,130 shares of the company’s stock worth $258,000 after purchasing an additional 111 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of RTX in the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.8 %

RTX traded down $0.92 on Monday, reaching $119.85. The company’s stock had a trading volume of 978,786 shares, compared to its average volume of 6,592,878. The business’s 50 day moving average is $122.17 and its 200 day moving average is $114.17. RTX Co. has a 1 year low of $79.13 and a 1 year high of $128.70. The stock has a market cap of $159.52 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. 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 (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm 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%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. As a group, research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business 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 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus target price 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.