Bfsg LLC Cuts Holdings in RTX Co. (NYSE:RTX)

Bfsg LLC reduced its position in RTX Co. (NYSE:RTX) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,051 shares of the company’s stock after selling 1,564 shares during the period. RTX accounts for about 1.4% of Bfsg LLC’s investment portfolio, making the stock its 11th biggest position. Bfsg LLC’s holdings in RTX were worth $11,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its holdings in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its position in RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after acquiring an additional 1,901,256 shares in the last quarter. Hsbc Holdings PLC increased its stake in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $162.50.

RTX Stock Up 0.9 %

NYSE:RTX opened at $126.20 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market cap of $167.88 billion, a PE ratio of 72.95, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a 50-day moving average of $120.50 and a 200 day moving average of $110.07. RTX Co. has a 1-year low of $72.48 and a 1-year high of $126.82.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 145.67%.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

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.