South Street Advisors LLC Trims Stock Position in RTX Co. (NYSE:RTX)

South Street Advisors LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 7.5% in the third quarter, Holdings Channel.com reports. The fund owned 77,287 shares of the company’s stock after selling 6,305 shares during the period. South Street Advisors LLC’s holdings in RTX were worth $9,364,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in shares of RTX during the second quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC increased its position in shares of RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after acquiring an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of RTX by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of RTX in the third quarter valued at approximately $953,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of RTX by 36.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.2 %

Shares of NYSE:RTX traded up $0.24 during trading on Friday, hitting $118.53. 6,970,495 shares of the company were exchanged, compared to its average volume of 6,669,619. The firm’s 50 day moving average price is $122.20 and its 200-day moving average price is $113.39. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The stock has a market capitalization of $157.77 billion, a P/E ratio of 33.86, a PEG ratio of 2.19 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 released 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 net margin of 5.97% and a return on equity of 11.96%. The firm 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 earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Wells Fargo & Company dropped their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $177.27.

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.