RTX Co. (NYSE:RTX) Shares Sold by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC lowered its position in RTX Co. (NYSE:RTX) by 2.6% in the third quarter, HoldingsChannel reports. The fund owned 690,739 shares of the company’s stock after selling 18,294 shares during the quarter. RTX accounts for about 2.4% of Fort Pitt Capital Group LLC’s portfolio, making the stock its 21st largest position. Fort Pitt Capital Group LLC’s holdings in RTX were worth $83,690,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Northern Financial Advisors Inc raised its position in shares of RTX by 9.5% during the 3rd quarter. Northern Financial Advisors Inc now owns 10,535 shares of the company’s stock worth $1,276,000 after purchasing an additional 911 shares during the last quarter. Optas LLC raised its position in shares of RTX by 23.9% during the 3rd quarter. Optas LLC now owns 3,292 shares of the company’s stock worth $399,000 after purchasing an additional 636 shares during the last quarter. First Interstate Bank raised its position in shares of RTX by 18.9% during the 3rd quarter. First Interstate Bank now owns 3,876 shares of the company’s stock worth $470,000 after purchasing an additional 615 shares during the last quarter. AM Investment Strategies LLC acquired a new position in shares of RTX during the 3rd quarter worth about $223,000. Finally, Chicago Partners Investment Group LLC raised its position in shares of RTX by 3.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,314 shares of the company’s stock worth $1,185,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 1.9 %

Shares of NYSE RTX opened at $118.75 on Friday. The company has a 50 day simple moving average of $122.13 and a 200-day simple moving average of $112.02. The company has a market capitalization of $158.06 billion, a P/E ratio of 33.93, a P/E/G 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 Co. has a 1 year low of $78.00 and a 1 year high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during 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 business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts predict that RTX Co. will post 5.56 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. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on RTX. Melius Research upped their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.