Costello Asset Management INC Sells 600 Shares of RTX Co. (NYSE:RTX)

Costello Asset Management INC cut its stake in RTX Co. (NYSE:RTX) by 53.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 525 shares of the company’s stock after selling 600 shares during the period. Costello Asset Management INC’s holdings in RTX were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Briaud Financial Planning Inc increased its position in 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 purchasing an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter worth about $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX during the third quarter worth about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RTX shares. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. UBS Group upped their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 2.9 %

Shares of NYSE:RTX opened at $123.55 on Friday. The company’s 50-day moving average price is $122.08 and its two-hundred day moving average price is $112.77. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $164.45 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

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