Tompkins Financial Corp Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Tompkins Financial Corp lowered its position in RTX Co. (NYSE:RTX) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,944 shares of the company’s stock after selling 100 shares during the quarter. Tompkins Financial Corp’s holdings in RTX were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Capital Research Global Investors boosted its holdings in RTX by 4.2% during 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 acquiring an additional 3,761,246 shares during the period. Capital International Investors increased its position in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Marshall Wace LLP raised its stake in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after acquiring an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC increased its holdings in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the period. Finally, Hsbc Holdings PLC raised its position in RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock traded up $3.47 during trading on Friday, reaching $123.55. The stock had a trading volume of 6,382,044 shares, compared to its average volume of 6,713,645. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The firm 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. 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 is $122.08 and its two-hundred day moving average is $112.69.

RTX (NYSE:RTX) last released its quarterly earnings results 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 net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid 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 dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.27.

About RTX

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.