Franklin Resources Inc. Sells 1,924,488 Shares of RTX Co. (NYSE:RTX)

Franklin Resources Inc. reduced its position in RTX Co. (NYSE:RTX) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,008,182 shares of the company’s stock after selling 1,924,488 shares during the quarter. Franklin Resources Inc.’s holdings in RTX were worth $1,995,260,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. LRI Investments LLC lifted its stake in RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management bought a new stake in shares of RTX in the 3rd quarter valued at $1,307,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the period. Kennebec Savings Bank bought a new position in RTX during the third quarter worth $953,000. Finally, Point72 Hong Kong Ltd increased its stake in RTX by 83.5% in the third quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after purchasing an additional 37,671 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.8 %

Shares of NYSE:RTX opened at $116.06 on Friday. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a market capitalization of $154.48 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. The business has a fifty day moving average price of $121.64 and a two-hundred day moving average price of $115.33. 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 (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. Analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada boosted 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, Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $177.27.

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.