WASHINGTON TRUST Co Cuts Holdings in RTX Co. (NYSE:RTX)

WASHINGTON TRUST Co cut its position in shares of RTX Co. (NYSE:RTX) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 194,586 shares of the company’s stock after selling 2,996 shares during the quarter. RTX makes up about 0.8% of WASHINGTON TRUST Co’s holdings, making the stock its 29th biggest position. WASHINGTON TRUST Co’s holdings in RTX were worth $23,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Ariston Services Group purchased a new position in RTX in the third quarter valued at about $232,000. Golden State Equity Partners boosted its stake in RTX by 0.4% in the third quarter. Golden State Equity Partners now owns 34,688 shares of the company’s stock valued at $4,203,000 after acquiring an additional 153 shares during the last quarter. Trajan Wealth LLC purchased a new position in RTX in the third quarter valued at about $302,000. Adams Diversified Equity Fund Inc. raised its position in shares of RTX by 17.7% in the third quarter. Adams Diversified Equity Fund Inc. now owns 203,900 shares of the company’s stock valued at $24,705,000 after purchasing an additional 30,600 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in shares of RTX by 2.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 26,104 shares of the company’s stock valued at $3,163,000 after buying an additional 519 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX stock traded down $0.44 on Wednesday, hitting $122.35. 793,649 shares of the company traded hands, compared to its average volume of 6,704,687. The firm’s 50-day simple moving average is $121.98 and its 200 day simple moving average is $111.75. 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 company has a market cap of $162.85 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data 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. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. Analysts expect that RTX Co. will post 5.57 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced 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 dividend yield of 2.06%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. UBS Group upped their price target 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. Royal Bank of Canada upped their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.