TCW Group Inc. Sells 430 Shares of RTX Co. (NYSE:RTX)

TCW Group Inc. lowered its stake in RTX Co. (NYSE:RTX) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,161 shares of the company’s stock after selling 430 shares during the period. TCW Group Inc.’s holdings in RTX were worth $2,200,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lantz Financial LLC increased its stake in RTX by 8.0% in the second quarter. Lantz Financial LLC now owns 2,757 shares of the company’s stock valued at $277,000 after acquiring an additional 204 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of RTX by 275.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 323,557 shares of the company’s stock valued at $32,482,000 after purchasing an additional 237,344 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of RTX during the 2nd quarter worth $72,000. Miracle Mile Advisors LLC lifted its position in shares of RTX by 55.2% during the 2nd quarter. Miracle Mile Advisors LLC now owns 18,944 shares of the company’s stock worth $1,902,000 after buying an additional 6,734 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of RTX by 13.6% during the 2nd quarter. Blue Trust Inc. now owns 16,507 shares of the company’s stock worth $1,610,000 after buying an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Morgan Stanley raised their target price 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. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

RTX Price Performance

Shares of RTX opened at $116.06 on Friday. The business has a 50-day moving average of $121.64 and a 200-day moving average of $115.33. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a market capitalization of $154.48 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. 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 results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business earned $1.25 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. RTX’s payout ratio is currently 72.00%.

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.