Griffin Asset Management Inc. Has $9.74 Million Holdings in RTX Co. (NYSE:RTX)

Griffin Asset Management Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 80,384 shares of the company’s stock after selling 1,303 shares during the period. RTX makes up approximately 1.1% of Griffin Asset Management Inc.’s portfolio, making the stock its 29th biggest holding. Griffin Asset Management Inc.’s holdings in RTX were worth $9,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC grew its holdings in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of RTX in the 2nd quarter worth $30,837,000. Capital Advisors Ltd. LLC raised its holdings in shares of RTX by 7.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares in the last quarter. Finally, CWM LLC boosted its holdings in RTX by 7.2% during the first quarter. CWM LLC now owns 126,970 shares of the company’s stock worth $12,383,000 after purchasing an additional 8,493 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RTX. Robert W. Baird increased their price objective 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. Melius Research increased their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup upped their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. One equities research 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. According to MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $162.50.

RTX Price Performance

RTX opened at $124.92 on Wednesday. The company has a market capitalization of $166.08 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 2.18 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $120.26 and a 200-day moving average price of $109.96. RTX Co. has a twelve month low of $72.48 and a twelve month high of $126.82.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

Insider Activity

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last ninety days. Company insiders own 0.13% of the company’s stock.

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.