King Wealth Management Group Trims Stock Holdings in RTX Co. (NYSE:RTX)

King Wealth Management Group cut its stake in shares of RTX Co. (NYSE:RTX) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,425 shares of the company’s stock after selling 223 shares during the quarter. King Wealth Management Group’s holdings in RTX were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the second quarter worth about $32,000. Western Pacific Wealth Management LP bought a new stake in RTX during the 3rd quarter valued at approximately $41,000. Finally, Fairfield Financial Advisors LTD purchased a new position in RTX in the 2nd quarter worth approximately $41,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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. Royal Bank of Canada lifted their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Melius Research upped their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. 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, the company presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Down 3.9 %

NYSE:RTX opened at $118.92 on Friday. The company has a market cap of $158.28 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The stock has a fifty day simple moving average of $122.20 and a 200-day simple moving average of $113.28. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the company posted $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 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.