Atlantic Union Bankshares Corp Lowers Position in RTX Co. (NYSE:RTX)

Atlantic Union Bankshares Corp decreased its holdings in shares of RTX Co. (NYSE:RTX) by 3.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 82,957 shares of the company’s stock after selling 3,296 shares during the period. Atlantic Union Bankshares Corp’s holdings in RTX were worth $10,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Napa Wealth Management bought a new position in shares of RTX in the 3rd quarter worth $1,307,000. Manning & Napier Advisors LLC bought a new position in shares of RTX during the 2nd quarter worth approximately $30,837,000. Mirae Asset Global Investments Co. Ltd. lifted its position in RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank purchased a new position in RTX in the third quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after purchasing an additional 97,749 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RTX shares. Royal Bank of Canada raised their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley upped their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Eight investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Trading Down 0.2 %

Shares of NYSE:RTX opened at $120.34 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $122.24 and a two-hundred day moving average of $114.40. RTX Co. has a 12-month low of $79.57 and a 12-month high of $128.70. The company has a market capitalization of $160.17 billion, a PE ratio of 34.38, a PEG ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX’s dividend payout ratio is currently 72.00%.

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.