Franklin Resources Inc. Sells 1,924,488 Shares of RTX Co. (NYSE:RTX)

Franklin Resources Inc. reduced its stake in RTX Co. (NYSE:RTX) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,008,182 shares of the company’s stock after selling 1,924,488 shares during the quarter. Franklin Resources Inc. owned about 1.20% of RTX worth $1,995,260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RTX. Briaud Financial Planning Inc boosted its stake in RTX by 64.1% in the 2nd 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. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the third quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter worth about $41,000. Finally, Western Pacific Wealth Management LP acquired a new stake in RTX in the 3rd quarter worth about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Barclays raised their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $116.06 on Friday. The firm has a market capitalization of $154.48 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.07 and a beta of 0.80. 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 business’s 50-day moving average price is $121.64 and its 200-day moving average price is $115.33. RTX Co. has a 12 month low of $79.67 and a 12 month high of $128.70.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, November 15th. RTX’s payout ratio is presently 72.00%.

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.