Meeder Advisory Services Inc. Sells 1,595 Shares of RTX Co. (NYSE:RTX)

Meeder Advisory Services Inc. cut its stake in RTX Co. (NYSE:RTX) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,698 shares of the company’s stock after selling 1,595 shares during the period. Meeder Advisory Services Inc.’s holdings in RTX were worth $2,871,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX in the 3rd quarter valued at $29,000. Napa Wealth Management acquired a new position in shares of RTX in the 3rd quarter valued at $1,307,000. CAP Partners LLC acquired a new position in shares of RTX in the 3rd quarter valued at $218,000. Cassaday & Co Wealth Management LLC raised its stake in shares of RTX by 0.9% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 10,230 shares of the company’s stock valued at $1,239,000 after buying an additional 96 shares in the last quarter. Finally, Capital City Trust Co. FL raised its stake in shares of RTX by 3.5% in the 3rd quarter. Capital City Trust Co. FL now owns 9,327 shares of the company’s stock valued at $1,130,000 after buying an additional 315 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RTX. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. 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. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. 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. Finally, Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Nine investment 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. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

Shares of RTX opened at $119.08 on Monday. The company has a market cap of $158.50 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70. The company’s fifty day simple moving average is $122.20 and its 200 day simple moving average is $113.56. 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 announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s payout ratio is presently 72.00%.

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.