Clarity Financial LLC Sells 3,196 Shares of RTX Co. (NYSE:RTX)

Clarity Financial LLC cut its holdings in RTX Co. (NYSE:RTX) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 90,501 shares of the company’s stock after selling 3,196 shares during the period. RTX comprises about 1.3% of Clarity Financial LLC’s holdings, making the stock its 27th biggest position. Clarity Financial LLC’s holdings in RTX were worth $10,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter valued at approximately $41,000. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX in the third quarter valued at approximately $50,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RTX shares. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $177.27.

RTX Trading Down 0.6 %

NYSE:RTX opened at $118.00 on Tuesday. The company has a market cap of $157.06 billion, a P/E ratio of 33.71, a P/E/G ratio of 2.10 and a beta of 0.82. The stock’s fifty day moving average price is $122.13 and its two-hundred day moving average price is $112.17. RTX Co. has a 1 year low of $78.00 and a 1 year 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.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.14%. RTX’s payout ratio is currently 72.00%.

RTX 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.