Rise Advisors LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

Rise Advisors LLC decreased its holdings in shares of RTX Co. (NYSE:RTX) by 10.9% during the third quarter, HoldingsChannel reports. The fund owned 2,338 shares of the company’s stock after selling 287 shares during the quarter. Rise Advisors LLC’s holdings in RTX were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its stake in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors grew its position in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of RTX by 1,247.1% in the second 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. Hsbc Holdings PLC raised its position in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $123.93 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $119.86 and its 200 day simple moving average is $109.58. The firm has a market cap of $164.77 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 2.18 and a beta of 0.82. RTX Co. has a 1 year low of $72.29 and a 1 year high of $125.93.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. As a group, analysts predict that RTX Co. will post 5.46 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a yield of 2.03%. RTX’s dividend payout ratio is presently 98.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last 90 days. Insiders own 0.13% of the company’s stock.

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.