Linscomb Wealth Inc. Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Linscomb Wealth Inc. lowered its holdings in RTX Co. (NYSE:RTX) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,837 shares of the company’s stock after selling 4,137 shares during the period. RTX accounts for 0.6% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 24th biggest position. Linscomb Wealth Inc.’s holdings in RTX were worth $12,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Manning & Napier Advisors LLC purchased a new stake in shares of RTX in the second quarter worth about $30,837,000. O Shaughnessy Asset Management LLC boosted its position in shares of RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares during the period. Kennebec Savings Bank purchased a new stake in shares of RTX in the third quarter worth about $953,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of RTX by 36.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RTX shares. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada boosted their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

RTX stock traded down $1.40 on Friday, reaching $117.52. The company’s stock had a trading volume of 865,263 shares, compared to its average volume of 6,642,124. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The company has a market capitalization of $156.42 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The firm has a fifty day moving average of $122.20 and a two-hundred day moving average of $113.28. 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 issued 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

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 2.14%. The ex-dividend date of this dividend 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.