SouthState Corp Sells 543 Shares of RTX Co. (NYSE:RTX)

SouthState Corp lessened its holdings in RTX Co. (NYSE:RTX) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 10,857 shares of the company’s stock after selling 543 shares during the quarter. SouthState Corp’s holdings in RTX were worth $1,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Edgestream Partners L.P. purchased a new stake in shares of RTX during the first quarter valued at approximately $325,000. Bessemer Group Inc. raised its position in RTX by 1.4% in the first quarter. Bessemer Group Inc. now owns 86,243 shares of the company’s stock worth $8,412,000 after acquiring an additional 1,225 shares during the period. Vident Advisory LLC raised its position in RTX by 132.2% in the first quarter. Vident Advisory LLC now owns 132,515 shares of the company’s stock worth $12,924,000 after acquiring an additional 75,449 shares during the period. EntryPoint Capital LLC raised its position in shares of RTX by 46.0% during the 1st quarter. EntryPoint Capital LLC now owns 1,361 shares of the company’s stock valued at $133,000 after purchasing an additional 429 shares during the period. Finally, CreativeOne Wealth LLC raised its position in shares of RTX by 178.1% during the 1st quarter. CreativeOne Wealth LLC now owns 18,858 shares of the company’s stock valued at $1,839,000 after purchasing an additional 12,076 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

NYSE:RTX opened at $118.94 on Wednesday. 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 Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The stock has a market cap of $158.31 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The firm’s fifty day simple moving average is $122.13 and its 200-day simple moving average is $113.81.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s payout ratio is currently 72.00%.

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.