United Asset Strategies Inc. Cuts Position in RTX Co. (NYSE:RTX)

United Asset Strategies Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,336 shares of the company’s stock after selling 335 shares during the period. United Asset Strategies Inc.’s holdings in RTX were worth $5,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Elgethun Capital Management grew its stake in shares of RTX by 3.8% in the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC increased its stake in RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares in the last quarter. Canal Capital Management LLC increased its stake in RTX by 2.1% during the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC lifted its stake in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.57 during midday trading on Thursday, hitting $121.29. The company had a trading volume of 771,967 shares, compared to its average volume of 6,696,245. The company has a market cap of $161.44 billion, a price-to-earnings ratio of 47.65, a PEG ratio of 2.17 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. The company has a fifty day moving average of $122.07 and a two-hundred day moving average of $111.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.57 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RTX. Morgan Stanley raised their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. 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. Susquehanna increased their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Finally, Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.