RTX Co. (NYSE:RTX) Holdings Trimmed by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC cut its holdings in RTX Co. (NYSE:RTX) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,264 shares of the company’s stock after selling 1,750 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in RTX were worth $1,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the second quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the 2nd quarter valued at $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX in the 3rd quarter worth about $41,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 2.9 %

NYSE:RTX traded up $3.47 during trading hours on Friday, reaching $123.55. The company’s stock had a trading volume of 6,382,044 shares, compared to its average volume of 6,713,645. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The business’s 50-day moving average is $122.08 and its 200-day moving average is $112.69. 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 market cap of $164.45 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last posted its 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. 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 analyst estimates of $19.84 billion. During the same period in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced 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 yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RTX shares. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Barclays raised their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus 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.