RTX Co. (NYSE:RTX) Shares Sold by Lathrop Investment Management Corp

Lathrop Investment Management Corp lessened its stake in RTX Co. (NYSE:RTX) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 123,178 shares of the company’s stock after selling 138 shares during the quarter. RTX comprises approximately 2.8% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 16th biggest position. Lathrop Investment Management Corp’s holdings in RTX were worth $14,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Napa Wealth Management purchased a new stake in shares of RTX during the third quarter worth $1,307,000. Manning & Napier Advisors LLC purchased a new stake in shares of RTX during the second quarter worth $30,837,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of RTX during the third quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $120.14 on Friday. The company has a fifty day moving average of $122.13 and a two-hundred day moving average of $113.89. 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 company has a market capitalization of $159.91 billion, a PE ratio of 34.33, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted 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. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 dividend on an annualized basis and a yield of 2.10%. RTX’s payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.