Advisors Asset Management Inc. Sells 25,435 Shares of RTX Co. (NYSE:RTX)

Advisors Asset Management Inc. decreased its holdings in RTX Co. (NYSE:RTX) by 16.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 126,538 shares of the company’s stock after selling 25,435 shares during the quarter. Advisors Asset Management Inc.’s holdings in RTX were worth $15,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Briaud Financial Planning Inc grew its stake 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 during the period. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.4 %

Shares of RTX opened at $118.94 on Wednesday. The firm has a market capitalization of $158.31 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. 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 1-year low of $78.00 and a 1-year high of $128.70. The company has a 50-day moving average of $122.13 and a 200 day moving average of $113.81.

RTX (NYSE:RTX) last posted 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted 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. Finally, Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Nine equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.