Wrapmanager Inc. Trims Holdings in RTX Co. (NYSE:RTX)

Wrapmanager Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 15.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,781 shares of the company’s stock after selling 515 shares during the period. Wrapmanager Inc.’s holdings in RTX were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Elgethun Capital Management increased its holdings in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the period. Canal Capital Management LLC increased its stake in shares of RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its stake in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Down 0.4 %

Shares of NYSE RTX opened at $118.94 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The firm has a 50 day moving average price of $122.13 and a 200 day moving average price of $113.81. The stock has a market cap of $158.31 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently announced 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price 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. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Melius Research lifted their price target 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.