Kornitzer Capital Management Inc. KS Sells 715 Shares of RTX Co. (NYSE:RTX)

Kornitzer Capital Management Inc. KS reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 127,385 shares of the company’s stock after selling 715 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in RTX were worth $15,434,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at about $41,000. Finally, ORG Wealth Partners LLC purchased a new position in RTX during the third quarter worth about $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Susquehanna raised their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.27.

RTX Stock Performance

Shares of NYSE RTX traded down $0.45 during midday trading on Thursday, hitting $121.14. The company’s stock had a trading volume of 229,301 shares, compared to its average volume of 6,695,806. The stock has a fifty day moving average price of $122.13 and a 200 day moving average price of $112.48. The firm has a market capitalization of $161.24 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 2.09 and a beta of 0.82. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal 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 2.08%. The ex-dividend date is 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.