RTX Co. (NYSE:RTX) Holdings Cut by Pitcairn Co.

Pitcairn Co. lowered its holdings in RTX Co. (NYSE:RTX) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,002 shares of the company’s stock after selling 1,589 shares during the period. Pitcairn Co.’s holdings in RTX were worth $3,150,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter valued at approximately $29,000. Briaud Financial Planning Inc increased its stake in shares of 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 purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the third quarter valued at approximately $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $120.77 on Friday. The stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82. RTX Co. has a 1 year low of $79.13 and a 1 year high of $128.70. The business’s fifty day moving average is $122.17 and its two-hundred day moving average is $114.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Robert W. Baird raised 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. Citigroup raised their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus 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.