RTX Co. (NYSE:RTX) Stock Position Lessened by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC lowered its stake in RTX Co. (NYSE:RTX) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,177 shares of the company’s stock after selling 174 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in RTX were worth $627,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares in the last quarter. Legal & General Group Plc boosted its position in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RTX by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in RTX by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock valued at $355,927,000 after purchasing an additional 38,930 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.8 %

RTX stock traded down $0.92 during midday trading on Monday, reaching $119.85. The company had a trading volume of 978,786 shares, compared to its average volume of 6,592,878. The company has a 50 day moving average of $122.17 and a two-hundred day moving average of $114.17. 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 Co. has a 1 year low of $79.13 and a 1 year high of $128.70. The company has a market capitalization of $159.52 billion, a P/E ratio of 34.51, a PEG ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 2.10%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Eight 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.