WASHINGTON TRUST Co Sells 2,996 Shares of RTX Co. (NYSE:RTX)

WASHINGTON TRUST Co lessened its position in RTX Co. (NYSE:RTX) by 1.5% during the third quarter, Holdings Channel.com reports. The fund owned 194,586 shares of the company’s stock after selling 2,996 shares during the period. RTX accounts for 0.8% of WASHINGTON TRUST Co’s holdings, making the stock its 29th largest holding. WASHINGTON TRUST Co’s holdings in RTX were worth $23,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in RTX during the 2nd quarter valued at about $30,837,000. O Shaughnessy Asset Management LLC lifted its position in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after acquiring an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in 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. Cetera Investment Advisers raised its holdings in RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after buying an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in RTX in the second quarter worth about $602,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on RTX shares. The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their target price 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. Ten 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 stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

NYSE RTX traded down $0.44 during trading hours on Wednesday, hitting $122.35. 793,649 shares of the company’s stock traded hands, compared to its average volume of 6,704,687. The business’s fifty day moving average price is $121.98 and its two-hundred day moving average price is $111.75. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $162.85 billion, a P/E ratio of 47.89, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

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 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 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 period in the previous year, the business posted $1.25 earnings per share. Equities research analysts predict that RTX Co. will post 5.57 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given 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 2.06%. RTX’s dividend payout ratio (DPR) is 98.82%.

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.