Primecap Management Co. CA Sells 300 Shares of RTX Co. (NYSE:RTX)

Primecap Management Co. CA lowered its stake in RTX Co. (NYSE:RTX) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,932 shares of the company’s stock after selling 300 shares during the period. Primecap Management Co. CA’s holdings in RTX were worth $46,760,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Elgethun Capital Management increased its stake in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares in the last quarter. Blackston Financial Advisory Group LLC increased its position in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the period. Canal Capital Management LLC raised its stake in shares of RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after acquiring an additional 87 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its holdings in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX opened at $120.14 on Friday. The firm’s fifty day simple moving average is $122.13 and its two-hundred day simple moving average is $113.89. The firm has a market capitalization of $159.91 billion, a P/E ratio of 34.33, a P/E/G ratio of 2.11 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 announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the company posted $1.25 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

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 $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RTX shares. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating, five have assigned 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 an average rating of “Hold” and a consensus 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.