Garland Capital Management Inc. Trims Stock Holdings in RTX Co. (NYSE:RTX)

Garland Capital Management Inc. lowered its position in shares of RTX Co. (NYSE:RTX) by 14.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 36,075 shares of the company’s stock after selling 6,110 shares during the period. RTX comprises about 3.4% of Garland Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Garland Capital Management Inc.’s holdings in RTX were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Manning & Napier Advisors LLC purchased a new position in shares of RTX during the second quarter valued at approximately $30,837,000. O Shaughnessy Asset Management LLC increased its holdings 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares in the last quarter. Cetera Investment Advisers grew its position in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX during the 2nd quarter valued at about $602,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX traded up $0.10 during trading hours on Tuesday, reaching $118.10. 1,536,948 shares of the stock traded hands, compared to its average volume of 6,678,490. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $157.19 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The company’s 50-day moving average price is $122.13 and its two-hundred day moving average price is $112.17.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.56 earnings per share 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 paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s payout ratio is 72.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted 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. Ten 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’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $177.27.

RTX Company 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.