Pitcairn Co. Has $3.15 Million Position in RTX Co. (NYSE:RTX)

Pitcairn Co. reduced its position in shares of RTX Co. (NYSE:RTX) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,002 shares of the company’s stock after selling 1,589 shares during the period. Pitcairn Co.’s holdings in RTX were worth $3,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the 3rd quarter valued at $29,000. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX during the 2nd quarter valued at $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX during the 3rd quarter valued at $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RTX shares. Barclays boosted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Up 0.2 %

RTX stock opened at $120.77 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. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The company has a 50-day moving average of $122.17 and a two-hundred day moving average of $114.02. The stock has a market capitalization of $160.75 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 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.