Dudley Capital Management LLC Trims Stake in RTX Co. (NYSE:RTX)

Dudley Capital Management LLC cut its position in shares of RTX Co. (NYSE:RTX) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,740 shares of the company’s stock after selling 150 shares during the period. Dudley Capital Management LLC’s holdings in RTX were worth $1,301,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors increased its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc grew its stake in RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. UBS Group boosted their price objective 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. Finally, Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Ten 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

RTX opened at $120.08 on Friday. The firm has a fifty day moving average price of $122.08 and a 200 day moving average price of $112.54. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The stock has a market cap of $159.83 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.15 and a beta of 0.82. 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 issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 2.10%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.