Garland Capital Management Inc. Decreases Holdings in RTX Co. (NYSE:RTX)

Garland Capital Management Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,075 shares of the company’s stock after selling 6,110 shares during the period. RTX accounts for 3.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Garland Capital Management Inc.’s holdings in RTX were worth $4,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Capital Research Global Investors grew its stake in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors raised its stake in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Clearbridge Investments LLC boosted its stake in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc increased its position in shares of 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 holdings in shares of RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.1 %

Shares of RTX stock traded up $0.10 during mid-day trading on Tuesday, reaching $118.10. The stock had a trading volume of 1,536,948 shares, compared to its average volume of 6,678,490. 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 stock’s 50-day moving average price is $122.13 and its two-hundred day moving average price is $112.17. The firm has a market capitalization of $157.19 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Citigroup increased 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. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada increased their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX 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.