Fernwood Investment Management LLC Reduces Position in RTX Co. (NYSE:RTX)

Fernwood Investment Management LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,248 shares of the company’s stock after selling 117 shares during the quarter. Fernwood Investment Management LLC’s holdings in RTX were worth $515,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Briaud Financial Planning Inc increased its holdings in shares of RTX by 64.1% in the second 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 acquired a new stake in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the 2nd quarter valued at about $41,000. Finally, Stephens Consulting LLC grew its holdings in shares of RTX by 34.1% in the second 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 period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.9 %

Shares of RTX stock traded down $2.24 during trading hours on Friday, reaching $118.75. 5,235,060 shares of the company were exchanged, compared to its average volume of 4,109,141. The firm has a market cap of $158.06 billion, a PE ratio of 33.93, a PEG ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock’s fifty day moving average is $122.13 and its 200 day moving average is $112.02.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) 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 analyst estimates of $19.84 billion. During the same quarter last year, the company earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Finally, Robert W. Baird raised their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus 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.