1ST Source Bank Sells 107 Shares of RTX Co. (NYSE:RTX)

1ST Source Bank reduced its position in RTX Co. (NYSE:RTX) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,828 shares of the company’s stock after selling 107 shares during the period. 1ST Source Bank’s holdings in RTX were worth $3,008,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX in the 2nd quarter worth $41,000. Finally, Western Pacific Wealth Management LP purchased a new stake in RTX in the 3rd quarter worth $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on RTX shares. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Performance

RTX traded up $1.04 on Friday, reaching $117.09. 566,565 shares of the stock were exchanged, compared to its average volume of 6,471,315. The company’s 50-day moving average price is $121.64 and its 200 day moving average price is $115.33. RTX Co. has a fifty-two week low of $79.67 and a fifty-two week 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 firm has a market capitalization of $155.85 billion, a PE ratio of 33.27, a PEG ratio of 2.07 and a beta of 0.80.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s dividend payout ratio is currently 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.