RTX Co. (NYSE:RTX) Shares Sold by Conning Inc.

Conning Inc. trimmed its position in RTX Co. (NYSE:RTX) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,459 shares of the company’s stock after selling 19,993 shares during the period. Conning Inc.’s holdings in RTX were worth $38,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Briaud Financial Planning Inc boosted 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 worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the second quarter worth $41,000. Finally, Stephens Consulting LLC increased its position in RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock opened at $118.75 on Friday. The firm has a market cap of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. 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 firm has a 50 day simple moving average of $122.13 and a 200 day simple moving average of $112.02.

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 analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Susquehanna boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. 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 company’s stock. Based on data from MarketBeat, the stock has an average 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.