Mutual of America Capital Management LLC Sells 3,882 Shares of RTX Co. (NYSE:RTX)

Mutual of America Capital Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 163,585 shares of the company’s stock after selling 3,882 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RTX were worth $19,820,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% during 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 during the last quarter. Lynx Investment Advisory bought a new position in RTX during the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the 2nd quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $118.53 on Friday. The stock has a market cap of $157.77 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.10 and a beta of 0.82. 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 Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The firm’s 50-day moving average is $122.20 and its 200 day moving average is $113.47.

RTX (NYSE:RTX) last announced its quarterly earnings results 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. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Sell-side 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. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RTX. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.