Hudson Valley Investment Advisors Inc. ADV Has $1.26 Million Holdings in RTX Co. (NYSE:RTX)

Hudson Valley Investment Advisors Inc. ADV lessened its holdings in RTX Co. (NYSE:RTX) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,362 shares of the company’s stock after selling 1,047 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in RTX were worth $1,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Allspring Global Investments Holdings LLC raised its holdings in shares of RTX by 13.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 393,854 shares of the company’s stock worth $38,413,000 after acquiring an additional 46,541 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of RTX by 44.7% in the 1st quarter. Valley National Advisers Inc. now owns 1,729 shares of the company’s stock worth $168,000 after purchasing an additional 534 shares during the period. SeaBridge Investment Advisors LLC raised its holdings in shares of RTX by 4.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 20,848 shares of the company’s stock worth $2,033,000 after purchasing an additional 805 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $3,383,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of RTX by 94.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 422,753 shares of the company’s stock worth $41,231,000 after purchasing an additional 205,868 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $121.93 on Thursday. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $162.29 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a fifty day moving average of $122.07 and a 200-day moving average of $111.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.57 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 98.82%.

Analyst Ratings Changes

RTX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $177.27.

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.