RTX Co. (NYSE:RTX) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in RTX Co. (NYSE:RTX) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,205 shares of the company’s stock after selling 519 shares during the quarter. First Horizon Advisors Inc.’s holdings in RTX were worth $4,266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Legal & General Group Plc lifted its holdings in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. raised its stake in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in RTX by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in RTX by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,937,660 shares of the company’s stock worth $355,927,000 after acquiring an additional 38,930 shares during the last quarter. Finally, National Pension Service grew its position in shares of RTX by 14.5% in the third quarter. National Pension Service now owns 2,483,792 shares of the company’s stock valued at $300,936,000 after purchasing an additional 313,710 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

Shares of NYSE RTX opened at $119.14 on Thursday. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The stock has a market capitalization of $158.58 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.11 and a beta of 0.82. 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’s fifty day simple moving average is $122.13 and its 200 day simple moving average is $113.84.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given 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 of this dividend is Friday, November 15th. RTX’s payout ratio is presently 72.00%.

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.