ING Groep NV Cuts Stake in RTX Co. (NYSE:RTX)

ING Groep NV lessened its stake in RTX Co. (NYSE:RTX) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,907 shares of the company’s stock after selling 994 shares during the quarter. ING Groep NV’s holdings in RTX were worth $21,555,000 at the end of the most recent reporting period.

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

RTX Stock Down 3.9 %

RTX stock opened at $118.92 on Friday. The company has a fifty day moving average price of $122.20 and a 200 day moving average price of $113.28. RTX Co. has a 12 month low of $78.00 and a 12 month 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 company has a market cap of $158.28 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The business 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

Several brokerages recently commented on RTX. The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Ten 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’s stock. Based on data from MarketBeat.com, RTX has an average 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.