Moran Wealth Management LLC Sells 111 Shares of RTX Co. (NYSE:RTX)

Moran Wealth Management LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 6,824 shares of the company’s stock after selling 111 shares during the period. Moran Wealth Management LLC’s holdings in RTX were worth $827,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Briaud Financial Planning Inc raised its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in RTX during the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the second quarter worth $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the 2nd quarter valued at about $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $120.14 on Friday. The company has a 50 day moving average of $122.13 and a two-hundred day moving average of $113.89. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company has a market cap of $159.91 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced 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 for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Susquehanna increased their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. 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. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $177.27.

RTX 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.