First Commonwealth Financial Corp PA Has $1.09 Million Holdings in RTX Co. (NYSE:RTX)

First Commonwealth Financial Corp PA cut its stake in shares of RTX Co. (NYSE:RTX) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 9,023 shares of the company’s stock after selling 98 shares during the period. First Commonwealth Financial Corp PA’s holdings in RTX were worth $1,093,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Napa Wealth Management acquired a new position in RTX in the 3rd quarter worth about $1,307,000. Manning & Napier Advisors LLC bought a new position in RTX during the second quarter valued at approximately $30,837,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in RTX by 16.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank bought a new stake in RTX in the third quarter worth approximately $953,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of RTX by 36.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after purchasing an additional 97,749 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Trading Up 0.7 %

RTX stock traded up $0.80 during trading on Wednesday, hitting $121.41. The company had a trading volume of 185,613 shares, compared to its average volume of 6,581,814. The firm has a 50-day moving average price of $122.16 and a 200-day moving average price of $114.26. The stock has a market cap of $161.60 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 12 month low of $79.57 and a 12 month 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 announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The business 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 was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.08%. RTX’s dividend payout ratio is presently 72.00%.

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.