Valley Brook Capital Group Inc. Sells 385 Shares of RTX Co. (NYSE:RTX)

Valley Brook Capital Group Inc. reduced its position in RTX Co. (NYSE:RTX) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 21,555 shares of the company’s stock after selling 385 shares during the period. RTX accounts for approximately 1.9% of Valley Brook Capital Group Inc.’s investment portfolio, making the stock its 12th biggest holding. Valley Brook Capital Group Inc.’s holdings in RTX were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of 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 first 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 last quarter. International Assets Investment Management LLC lifted its position in shares of RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after buying an additional 792,830 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Ten 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.27.

RTX Trading Down 0.4 %

RTX stock traded down $0.45 during mid-day 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 company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a 50 day moving average of $122.13 and a 200-day moving average of $112.48. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The stock has a market cap of $161.24 billion, a PE ratio of 34.74, a P/E/G ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.08%. RTX’s dividend payout ratio (DPR) 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.