Klingenstein Fields & Co. LP Trims Holdings in RTX Co. (NYSE:RTX)

Klingenstein Fields & Co. LP lessened its position in RTX Co. (NYSE:RTX) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,515 shares of the company’s stock after selling 4,169 shares during the period. RTX comprises 1.6% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 20th largest holding. Klingenstein Fields & Co. LP’s holdings in RTX were worth $40,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Manning & Napier Advisors LLC acquired a new stake in shares of RTX during the second quarter worth $30,837,000. O Shaughnessy Asset Management LLC grew its holdings in RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after buying an additional 11,354 shares during the period. Cetera Investment Advisers increased its stake in shares of RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after acquiring an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in shares of RTX during the 2nd quarter worth about $602,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 0.3 %

NYSE RTX opened at $119.15 on Monday. The stock has a market cap of $158.59 billion, a P/E ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. The company’s fifty day simple moving average is $122.13 and its 200-day simple moving average is $112.09. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.11%. RTX’s dividend payout ratio is presently 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.