Allen Capital Group LLC Sells 306 Shares of RTX Co. (NYSE:RTX)

Allen Capital Group LLC cut its stake in RTX Co. (NYSE:RTX) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,924 shares of the company’s stock after selling 306 shares during the quarter. Allen Capital Group LLC’s holdings in RTX were worth $354,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RTX. Elgethun Capital Management grew its position in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the period. Blackston Financial Advisory Group LLC grew its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the period. Canal Capital Management LLC grew its position in RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its position in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Trading Up 0.2 %

Shares of RTX stock opened at $120.77 on Friday. RTX Co. has a 52-week low of $79.13 and a 52-week high of $128.70. The stock’s 50-day simple moving average is $122.17 and its 200 day simple moving average is $114.02. The stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 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.