Sequoia Financial Advisors LLC Boosts Holdings in RTX Co. (NYSE:RTX)

Sequoia Financial Advisors LLC grew its position in shares of RTX Co. (NYSE:RTX) by 6.3% in the third quarter, Holdings Channel reports. The institutional investor owned 487,458 shares of the company’s stock after buying an additional 28,818 shares during the period. Sequoia Financial Advisors LLC’s holdings in RTX were worth $59,060,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in RTX during the second quarter worth $30,837,000. Capital Advisors Ltd. LLC boosted its stake in shares of RTX by 7.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after acquiring an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares during the period. Cetera Investment Advisers increased its stake in RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new position in RTX during the second quarter worth $602,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research upped their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $162.50.

RTX Trading Down 0.6 %

NYSE:RTX traded down $0.77 during mid-day trading on Tuesday, reaching $125.13. The company’s stock had a trading volume of 2,568,372 shares, compared to its average volume of 6,765,738. RTX Co. has a twelve month low of $72.52 and a twelve month high of $128.66. The company’s fifty day simple moving average is $121.09 and its two-hundred day simple moving average is $110.74. 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 has a market cap of $166.36 billion, a P/E ratio of 49.04, a P/E/G ratio of 2.24 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping 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 company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the firm posted $1.29 earnings per share. RTX’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 98.82%.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 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.