Advisors Asset Management Inc. Sells 25,435 Shares of RTX Co. (NYSE:RTX)

Advisors Asset Management Inc. reduced its position in shares of RTX Co. (NYSE:RTX) by 16.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,538 shares of the company’s stock after selling 25,435 shares during the quarter. Advisors Asset Management Inc.’s holdings in RTX were worth $15,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the third quarter valued at approximately $29,000. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the 2nd quarter worth $32,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RTX. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna increased their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Nine 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 stock currently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 0.4 %

Shares of NYSE:RTX opened at $118.94 on Wednesday. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock’s fifty day moving average price is $122.13 and its 200-day moving average price is $113.81. The company has a market cap of $158.31 billion, a P/E ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly 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 firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.12%. RTX’s payout ratio 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.