Prime Capital Investment Advisors LLC Sells 29,778 Shares of RTX Co. (NYSE:RTX)

Prime Capital Investment Advisors LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 13.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 190,959 shares of the company’s stock after selling 29,778 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in RTX were worth $23,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in RTX by 5.7% during the 1st quarter. Meeder Asset Management Inc. now owns 2,945 shares of the company’s stock valued at $287,000 after buying an additional 158 shares during the period. Bleakley Financial Group LLC boosted its position in RTX by 8.0% during the first quarter. Bleakley Financial Group LLC now owns 41,224 shares of the company’s stock valued at $4,021,000 after purchasing an additional 3,042 shares in the last quarter. Sheets Smith Wealth Management raised its stake in shares of RTX by 8.1% in the first quarter. Sheets Smith Wealth Management now owns 5,638 shares of the company’s stock worth $550,000 after purchasing an additional 424 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of RTX in the first quarter worth about $730,000. Finally, Pettyjohn Wood & White Inc. raised its stake in shares of RTX by 0.9% in the first quarter. Pettyjohn Wood & White Inc. now owns 64,670 shares of the company’s stock worth $6,307,000 after purchasing an additional 590 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of RTX stock traded down $0.75 during trading hours on Tuesday, reaching $123.81. 169,876 shares of the company’s stock were exchanged, compared to its average volume of 6,671,434. The company has a market cap of $164.79 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company’s 50 day moving average is $122.11 and its two-hundred day moving average is $113.01. 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 released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the business posted $1.25 EPS. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.27.

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.