Solidarity Wealth LLC Sells 4,868 Shares of RTX Co. (NYSE:RTX)

Solidarity Wealth LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 7.9% during the third quarter, Holdings Channel reports. The firm owned 56,852 shares of the company’s stock after selling 4,868 shares during the period. RTX comprises 1.9% of Solidarity Wealth LLC’s holdings, making the stock its 18th biggest holding. Solidarity Wealth LLC’s holdings in RTX were worth $6,888,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Briaud Financial Planning Inc lifted its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC raised its position in RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RTX shares. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company decreased their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

RTX opened at $121.93 on Thursday. The company has a fifty day simple moving average of $122.07 and a 200 day simple moving average of $111.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock has a market cap of $162.29 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70.

RTX (NYSE:RTX) last released 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 for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. On average, research analysts expect that RTX Co. will post 5.57 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

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.