First City Capital Management Inc. Decreases Position in RTX Co. (NYSE:RTX)

First City Capital Management Inc. decreased its stake in RTX Co. (NYSE:RTX) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,852 shares of the company’s stock after selling 1,762 shares during the period. RTX makes up 1.2% of First City Capital Management Inc.’s portfolio, making the stock its 19th biggest position. First City Capital Management Inc.’s holdings in RTX were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. acquired a new position in shares of RTX in the first quarter worth about $325,000. Bessemer Group Inc. lifted its stake in shares of RTX by 1.4% in the first quarter. Bessemer Group Inc. now owns 86,243 shares of the company’s stock worth $8,412,000 after acquiring an additional 1,225 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of RTX by 59.2% in the first quarter. Lake Street Advisors Group LLC now owns 10,624 shares of the company’s stock worth $1,036,000 after acquiring an additional 3,951 shares in the last quarter. Twin Capital Management Inc. lifted its stake in shares of RTX by 99.1% in the first quarter. Twin Capital Management Inc. now owns 9,869 shares of the company’s stock worth $963,000 after acquiring an additional 4,912 shares in the last quarter. Finally, Vaughan David Investments LLC IL acquired a new position in shares of RTX in the first quarter worth about $210,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on RTX shares. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Up 0.7 %

NYSE:RTX opened at $119.40 on Tuesday. The firm has a market capitalization of $158.92 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The stock has a 50 day moving average of $122.16 and a 200-day moving average of $113.68. 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.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. Analysts predict 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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.11%. 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.