Verity & Verity LLC Sells 26,389 Shares of RTX Co. (NYSE:RTX)

Verity & Verity LLC trimmed its stake in RTX Co. (NYSE:RTX) by 10.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,113 shares of the company’s stock after selling 26,389 shares during the quarter. RTX comprises about 2.7% of Verity & Verity LLC’s holdings, making the stock its 8th biggest position. Verity & Verity LLC’s holdings in RTX were worth $27,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc boosted its holdings 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 acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX during the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the third quarter worth approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the 2nd quarter worth $32,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in RTX in the 2nd quarter valued at $41,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.7 %

Shares of NYSE RTX opened at $119.40 on Tuesday. The business has a 50-day moving average of $122.16 and a 200-day moving average of $113.68. The firm has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.10 and a beta of 0.82. 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 Co. has a 12 month low of $78.00 and a 12 month high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. RTX’s dividend payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. 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. Finally, Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine investment 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 stock. According to data from MarketBeat.com, the stock has an average 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.