Prudent Man Advisors LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Prudent Man Advisors LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 16.9% in the third quarter, HoldingsChannel reports. The firm owned 8,732 shares of the company’s stock after selling 1,779 shares during the period. Prudent Man Advisors LLC’s holdings in RTX were worth $1,058,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC increased its position in RTX by 0.5% during the third quarter. TrinityPoint Wealth LLC now owns 38,752 shares of the company’s stock worth $4,695,000 after buying an additional 186 shares in the last quarter. Essential Planning LLC. purchased a new stake in shares of RTX in the third quarter valued at $216,000. Tower Bridge Advisors boosted its stake in shares of RTX by 0.8% during the third quarter. Tower Bridge Advisors now owns 104,542 shares of the company’s stock valued at $12,666,000 after acquiring an additional 876 shares during the last quarter. Schear Investment Advisers LLC increased its position in RTX by 1.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 5,826 shares of the company’s stock worth $706,000 after purchasing an additional 89 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its stake in RTX by 3.2% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 12,121 shares of the company’s stock valued at $1,469,000 after purchasing an additional 373 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE:RTX opened at $118.53 on Monday. The firm has a market capitalization of $157.77 billion, a PE ratio of 33.87, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50-day moving average of $122.20 and a two-hundred day moving average of $113.56.

RTX (NYSE:RTX) last posted its quarterly earnings results 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 for 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%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RTX shares. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average price target 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.