RTX Co. (NYSE:RTX) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC lowered its holdings in RTX Co. (NYSE:RTX) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,544 shares of the company’s stock after selling 2,296 shares during the period. TCTC Holdings LLC’s holdings in RTX were worth $10,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% during 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 purchased a new stake in RTX during the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the second quarter worth approximately $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX during the 3rd quarter worth approximately $41,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX opened at $123.55 on Friday. The company has a market capitalization of $164.45 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.15 and a beta of 0.82. The business’s 50-day moving average price is $122.08 and its two-hundred day moving average price is $112.69. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. 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 results on Tuesday, October 22nd. The company reported $1.45 EPS 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 analysts’ expectations of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.27.

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.