First Financial Bankshares Inc Reduces Stock Holdings in RTX Co. (NYSE:RTX)

First Financial Bankshares Inc decreased its holdings in RTX Co. (NYSE:RTX) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,519 shares of the company’s stock after selling 253 shares during the quarter. First Financial Bankshares Inc’s holdings in RTX were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors lifted its position in RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the period. Clearbridge Investments LLC lifted its position in RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc lifted its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $125.16 on Monday. The business’s 50 day moving average price is $121.74 and its 200-day moving average price is $111.42. The company has a market cap of $166.59 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. Sell-side analysts predict that RTX Co. will post 5.57 earnings per share for the current year.

RTX Announces Dividend

The business 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 $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Susquehanna lifted their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.27.

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.