RTX Co. (NYSE:RTX) Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,540 shares of the company’s stock after selling 265 shares during the quarter. RTX accounts for about 1.2% of Northcape Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Northcape Wealth Management LLC’s holdings in RTX were worth $3,700,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RTX. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors grew its holdings in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC increased its position in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares during the period. Legal & General Group Plc raised its stake in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after acquiring an additional 408,551 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RTX. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX stock opened at $118.53 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $157.76 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm’s 50 day simple moving average is $122.20 and its 200-day simple moving average is $113.39.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for 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 company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.13%. RTX’s payout ratio is presently 72.00%.

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.