Thrivent Financial for Lutherans Has $31.44 Million Holdings in RTX Co. (NYSE:RTX)

Thrivent Financial for Lutherans cut its stake in shares of RTX Co. (NYSE:RTX) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 259,484 shares of the company’s stock after selling 30,431 shares during the period. Thrivent Financial for Lutherans’ holdings in RTX were worth $31,439,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% in 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 period. Lynx Investment Advisory acquired a new stake in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth about $41,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in RTX during the 2nd quarter worth about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $118.94 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a market cap of $158.31 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 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 firm’s 50-day simple moving average is $122.13 and its 200 day simple moving average is $113.81.

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. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business 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 payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently 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.