Pure Financial Advisors LLC Trims Position in RTX Co. (NYSE:RTX)

Pure Financial Advisors LLC lowered its holdings in RTX Co. (NYSE:RTX) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,738 shares of the company’s stock after selling 227 shares during the quarter. Pure Financial Advisors LLC’s holdings in RTX were worth $2,028,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RTX. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX during the 2nd quarter valued at approximately $41,000. Finally, Stephens Consulting LLC lifted its stake in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $118.75 on Friday. The company has a market cap of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The company’s 50-day moving average price is $122.13 and its 200-day moving average price is $112.02. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business 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 $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Morgan Stanley raised their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Ten equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.