Integrated Wealth Concepts LLC Sells 2,258 Shares of RTX Co. (NYSE:RTX)

Integrated Wealth Concepts LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,094 shares of the company’s stock after selling 2,258 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in RTX were worth $6,796,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RTX. Fisher Asset Management LLC raised its holdings in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Legal & General Group Plc increased its holdings in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares in the last quarter. Finally, FMR LLC boosted its position in shares of RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after buying an additional 490,109 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.5 %

RTX stock opened at $118.09 on Wednesday. The stock has a fifty day moving average of $122.31 and a 200-day moving average of $114.78. RTX Co. has a fifty-two week low of $79.67 and a fifty-two week high of $128.70. The company has a market capitalization of $157.18 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.10 and a beta of 0.80. 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 (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given 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 2.13%. RTX’s dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of analyst reports. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna lifted 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, Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

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.