Carson Advisory Inc. Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Carson Advisory Inc. decreased its stake in RTX Co. (NYSE:RTX) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,223 shares of the company’s stock after selling 191 shares during the period. Carson Advisory Inc.’s holdings in RTX were worth $269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the second quarter valued at about $32,000. Western Pacific Wealth Management LP purchased a new position in shares of RTX in the third quarter worth about $41,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the 2nd quarter valued at about $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX stock opened at $123.55 on Friday. The stock’s 50 day moving average is $122.08 and its 200 day moving average is $112.69. The company has a market capitalization of $164.45 billion, a P/E ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its quarterly earnings results 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s payout ratio is currently 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.