RTX Co. (NYSE:RTX) Shares Sold by Platform Technology Partners

Platform Technology Partners decreased its stake in RTX Co. (NYSE:RTX) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,646 shares of the company’s stock after selling 94 shares during the period. RTX accounts for 1.0% of Platform Technology Partners’ portfolio, making the stock its 20th biggest position. Platform Technology Partners’ holdings in RTX were worth $3,107,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RTX. Meeder Asset Management Inc. boosted its position in shares of RTX by 5.7% in the 1st quarter. Meeder Asset Management Inc. now owns 2,945 shares of the company’s stock valued at $287,000 after purchasing an additional 158 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of RTX by 8.0% in the first quarter. Bleakley Financial Group LLC now owns 41,224 shares of the company’s stock valued at $4,021,000 after acquiring an additional 3,042 shares during the period. Sheets Smith Wealth Management grew its position in shares of RTX by 8.1% during the first quarter. Sheets Smith Wealth Management now owns 5,638 shares of the company’s stock worth $550,000 after acquiring an additional 424 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of RTX in the 1st quarter valued at $730,000. Finally, Pettyjohn Wood & White Inc. boosted its stake in RTX by 0.9% during the 1st quarter. Pettyjohn Wood & White Inc. now owns 64,670 shares of the company’s stock worth $6,307,000 after purchasing an additional 590 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX opened at $124.56 on Tuesday. The company has a market capitalization of $165.79 billion, a PE ratio of 35.59, a P/E/G ratio of 2.19 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a 50-day simple moving average of $122.11 and a 200-day simple moving average of $113.01. 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 posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, 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. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.