OneAscent Financial Services LLC Lowers Position in RTX Co. (NYSE:RTX)

OneAscent Financial Services LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,180 shares of the company’s stock after selling 216 shares during the quarter. OneAscent Financial Services LLC’s holdings in RTX were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in shares of RTX in the first quarter valued at about $325,000. Bessemer Group Inc. increased its stake in RTX by 1.4% in the 1st quarter. Bessemer Group Inc. now owns 86,243 shares of the company’s stock valued at $8,412,000 after buying an additional 1,225 shares during the last quarter. Vident Advisory LLC lifted its position in shares of RTX by 132.2% during the 1st quarter. Vident Advisory LLC now owns 132,515 shares of the company’s stock worth $12,924,000 after buying an additional 75,449 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of RTX by 46.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,361 shares of the company’s stock worth $133,000 after buying an additional 429 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in shares of RTX by 178.1% in the first quarter. CreativeOne Wealth LLC now owns 18,858 shares of the company’s stock valued at $1,839,000 after acquiring an additional 12,076 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup increased their price target on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley lifted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $177.27.

RTX Trading Down 0.4 %

Shares of RTX stock opened at $118.94 on Wednesday. The company’s 50-day moving average price is $122.13 and its 200-day moving average price is $113.81. 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. The company has a market cap of $158.31 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82.

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

RTX Announces Dividend

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

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.