Ipswich Investment Management Co. Inc. Has $1.72 Million Position in RTX Co. (NYSE:RTX)

Ipswich Investment Management Co. Inc. reduced its stake in RTX Co. (NYSE:RTX) by 6.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,225 shares of the company’s stock after selling 1,039 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in RTX were worth $1,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its position in RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors raised its stake in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of RTX by 1,247.1% in the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after acquiring an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC grew its position in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $118.53 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70. The company’s 50 day moving average price is $122.20 and its two-hundred day moving average price is $113.39. The company has a market capitalization of $157.76 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Susquehanna raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Nine 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’s stock. According to MarketBeat, the company has a consensus 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.