Olstein Capital Management L.P. Has $7.03 Million Stock Holdings in RTX Co. (NYSE:RTX)

Olstein Capital Management L.P. reduced its stake in RTX Co. (NYSE:RTX) by 17.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,000 shares of the company’s stock after selling 12,000 shares during the period. Olstein Capital Management L.P.’s holdings in RTX were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter worth about $41,000. Finally, Stephens Consulting LLC increased its holdings in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Down 0.4 %

RTX stock traded down $0.52 during mid-day trading on Thursday, reaching $121.07. 208,740 shares of the company traded hands, compared to its average volume of 6,695,711. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $122.13 and its 200 day moving average price is $112.48. The stock has a market cap of $161.15 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 2.09 and a beta of 0.82. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. 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 stock has an average rating of “Hold” and a consensus price target 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.