Dillon & Associates Inc. Sells 3,285 Shares of RTX Co. (NYSE:RTX)

Dillon & Associates Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 7.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,005 shares of the company’s stock after selling 3,285 shares during the period. Dillon & Associates Inc.’s holdings in RTX were worth $4,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Research Global Investors raised its holdings in shares of RTX by 4.2% in the first 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 in the last quarter. Capital International Investors boosted its stake in shares of RTX by 4.8% during the first 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 in the last quarter. Clearbridge Investments LLC increased its holdings in RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc lifted its holdings in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $123.36 on Wednesday. RTX Co. has a 12 month low of $78.00 and a 12 month 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 business has a 50 day simple moving average of $122.16 and a 200-day simple moving average of $113.17. The stock has a market capitalization of $164.19 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 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 firm 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 earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.04%. RTX’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup lifted their price objective 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. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.