Apollon Wealth Management LLC Sells 711 Shares of RTX Co. (NYSE:RTX)

Apollon Wealth Management LLC cut its position in RTX Co. (NYSE:RTX) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,555 shares of the company’s stock after selling 711 shares during the quarter. Apollon Wealth Management LLC’s holdings in RTX were worth $6,731,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Elgethun Capital Management lifted its position in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of 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 acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC lifted its position in shares of 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 acquiring an additional 86 shares during the period. Canal Capital Management LLC lifted its position in shares of 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 acquiring an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC lifted its position in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Susquehanna upped their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Ten research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Trading Up 0.8 %

NYSE RTX opened at $124.56 on Tuesday. The business has a 50 day simple moving average of $122.11 and a 200 day simple moving average of $113.01. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The stock has a market capitalization of $165.79 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.19 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.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS 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 business 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 posted $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 2.02%. RTX’s dividend payout ratio is currently 72.00%.

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.