Chevy Chase Trust Holdings LLC Sells 12,586 Shares of RTX Co. (NYSE:RTX)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 725,050 shares of the company’s stock after selling 12,586 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in RTX were worth $87,847,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Briaud Financial Planning Inc lifted its holdings in RTX by 64.1% during 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 stake in RTX in the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth approximately $32,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RTX. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Stock Up 1.2 %

RTX stock opened at $121.83 on Monday. The firm has a market capitalization of $162.16 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.82. The firm’s fifty day moving average price is $122.34 and its two-hundred day moving average price is $114.61. RTX Co. has a 1-year low of $79.67 and a 1-year 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 announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for 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%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued 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 2.07%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

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.