Foundry Partners LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Foundry Partners LLC lessened its holdings in RTX Co. (NYSE:RTX) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,565 shares of the company’s stock after selling 548 shares during the period. Foundry Partners LLC’s holdings in RTX were worth $12,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in RTX. Marshall Wace LLP increased its holdings in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the period. International Assets Investment Management LLC lifted its stake in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of RTX by 47.9% in 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. abrdn plc grew its stake in shares of RTX by 527.6% during the third quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after purchasing an additional 509,261 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of RTX by 498.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 521,793 shares of the company’s stock worth $63,220,000 after acquiring an additional 434,628 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

NYSE:RTX opened at $119.14 on Thursday. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. 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 firm has a 50-day moving average price of $122.13 and a two-hundred day moving average price of $113.84. The company has a market capitalization of $158.58 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

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

RTX Announces Dividend

The firm also recently disclosed 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. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Nine 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 company. Based on data from MarketBeat.com, RTX has an average 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.