Townsquare Capital LLC Decreases Holdings in RTX Co. (NYSE:RTX)

Townsquare Capital LLC cut its stake in RTX Co. (NYSE:RTX) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,205 shares of the company’s stock after selling 1,003 shares during the quarter. Townsquare Capital LLC’s holdings in RTX were worth $28,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc boosted its holdings in 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 acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in shares of RTX in the second quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in RTX during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $120.62 on Wednesday. The company has a market cap of $160.55 billion, a P/E ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82. The business has a 50 day moving average of $122.16 and a two-hundred day moving average of $114.26. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70. 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 (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. As a group, analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.09%. RTX’s dividend payout ratio is presently 72.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Susquehanna raised their price target 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. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

About RTX

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.