Montgomery Investment Management Inc. Reduces Holdings in RTX Co. (NYSE:RTX)

Montgomery Investment Management Inc. decreased its position in shares of RTX Co. (NYSE:RTX) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,301 shares of the company’s stock after selling 100 shares during the period. Montgomery Investment Management Inc.’s holdings in RTX were worth $1,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CX Institutional increased its position in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management acquired a new position in shares of RTX in the 3rd quarter valued at about $1,307,000. Czech National Bank boosted its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after buying an additional 17,608 shares during the period. Finally, Empirical Asset Management LLC acquired a new position in shares of RTX in the 4th quarter valued at about $8,387,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.2 %

NYSE RTX opened at $128.42 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company’s 50 day simple moving average is $119.52 and its 200 day simple moving average is $119.77. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a market capitalization of $170.93 billion, a P/E ratio of 36.18, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities research analysts expect that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. UBS Group lifted their price target on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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.