Rockbridge Investment Management LCC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Rockbridge Investment Management LCC lessened its position in shares of RTX Co. (NYSE:RTX) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,002 shares of the company’s stock after selling 661 shares during the quarter. Rockbridge Investment Management LCC’s holdings in RTX were worth $970,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc raised its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter worth approximately $32,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter valued at approximately $41,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 2.9 %

Shares of NYSE:RTX opened at $123.55 on Friday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $122.08 and its 200 day moving average price is $112.69. 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 stock has a market cap of $164.45 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $19.84 billion. During the same quarter last year, the company earned $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Ratings Changes

RTX has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. 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 report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Company 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.