RTX Co. (NYSE:RTX) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.1% during the third quarter, Holdings Channel.com reports. The firm owned 364,968 shares of the company’s stock after selling 229 shares during the period. RTX accounts for about 2.6% of Grandfield & Dodd LLC’s portfolio, making the stock its 9th biggest position. Grandfield & Dodd LLC’s holdings in RTX were worth $44,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Portfolio Design Labs LLC acquired a new position in shares of RTX in the third quarter worth about $1,912,000. Kirtland Hills Capital Management LLC increased its position in RTX by 12.2% during the third quarter. Kirtland Hills Capital Management LLC now owns 9,324 shares of the company’s stock worth $1,130,000 after buying an additional 1,014 shares during the last quarter. Jennison Associates LLC raised its stake in shares of RTX by 15.3% in the 3rd quarter. Jennison Associates LLC now owns 520,742 shares of the company’s stock valued at $63,093,000 after acquiring an additional 69,285 shares in the last quarter. MWA Asset Management increased its stake in shares of RTX by 1.1% in the third quarter. MWA Asset Management now owns 17,197 shares of the company’s stock worth $2,084,000 after purchasing an additional 187 shares during the period. Finally, Northwest Bancshares Inc. acquired a new stake in RTX in the 3rd quarter valued at approximately $902,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.4 %

NYSE:RTX opened at $118.94 on Wednesday. The company has a market cap of $158.31 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. 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 stock’s fifty day moving average price is $122.13 and its two-hundred day moving average price is $113.81.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

Analyst Ratings Changes

A number of brokerages have recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Susquehanna increased their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.