SpiderRock Advisors LLC Has $8.04 Million Position in RTX Co. (NYSE:RTX)

SpiderRock Advisors LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 5.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 66,345 shares of the company’s stock after selling 3,838 shares during the period. SpiderRock Advisors LLC’s holdings in RTX were worth $8,038,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in RTX. CWA Asset Management Group LLC acquired a new position in RTX in the third quarter valued at about $4,255,000. Equitable Trust Co. boosted its stake in RTX by 3.9% during the 3rd quarter. Equitable Trust Co. now owns 23,457 shares of the company’s stock worth $2,842,000 after acquiring an additional 879 shares during the last quarter. Burt Wealth Advisors acquired a new position in RTX during the third quarter valued at approximately $204,000. Capital Performance Advisors LLP bought a new stake in RTX in the third quarter valued at approximately $88,000. Finally, Physicians Financial Services Inc. acquired a new stake in RTX in the third quarter worth $1,795,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RTX. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a 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. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Ten equities 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $177.27.

RTX Trading Up 2.9 %

NYSE RTX opened at $123.55 on Friday. 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 has a 50 day moving average of $122.08 and a 200-day moving average of $112.69. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a market cap of $164.45 billion, a PE ratio of 35.30, a PEG ratio of 2.15 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 analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the firm earned $1.25 EPS. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.56 EPS 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is 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.