Old North State Wealth Management LLC Sells 2,348 Shares of RTX Co. (NYSE:RTX)

Old North State Wealth Management LLC decreased its holdings in shares of RTX Co. (NYSE:RTX) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,455 shares of the company’s stock after selling 2,348 shares during the period. Old North State Wealth Management LLC’s holdings in RTX were worth $1,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC increased its position in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RTX. Royal Bank of Canada upped their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 1.9 %

RTX stock opened at $118.75 on Monday. The firm has a 50-day moving average of $122.13 and a 200-day moving average of $112.09. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $158.06 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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 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 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.