Cutler Investment Counsel LLC Has $14.97 Million Stock Holdings in RTX Co. (NYSE:RTX)

Cutler Investment Counsel LLC lowered its position in shares of RTX Co. (NYSE:RTX) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 123,570 shares of the company’s stock after selling 2,905 shares during the period. RTX accounts for 1.9% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 16th biggest holding. Cutler Investment Counsel LLC’s holdings in RTX were worth $14,972,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in RTX during the 1st quarter worth approximately $730,000. Spirepoint Private Client LLC bought a new stake in RTX in the 1st quarter valued at $498,000. Patten & Patten Inc. TN lifted its position in RTX by 0.3% in the 1st quarter. Patten & Patten Inc. TN now owns 159,671 shares of the company’s stock valued at $15,573,000 after acquiring an additional 542 shares in the last quarter. Edgestream Partners L.P. acquired a new position in RTX in the 1st quarter worth $325,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in shares of RTX by 14.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 25,572 shares of the company’s stock valued at $2,494,000 after purchasing an additional 3,155 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

Shares of NYSE RTX traded up $0.24 during mid-day trading on Friday, reaching $118.53. The company had a trading volume of 6,970,495 shares, compared to its average volume of 6,669,619. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The business’s 50-day simple moving average is $122.20 and its 200 day simple moving average is $113.39. 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 firm has a market cap of $157.77 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during 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 period in the previous year, the company earned $1.25 EPS. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm 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. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.