Dynamic Technology Lab Private Ltd Lowers Holdings in RTX Co. (NYSE:RTX)

Dynamic Technology Lab Private Ltd reduced its position in shares of RTX Co. (NYSE:RTX) by 34.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,495 shares of the company’s stock after selling 10,718 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in RTX were worth $2,483,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday. 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 report on Monday, July 29th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Price Performance

NYSE:RTX opened at $120.77 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70. The stock’s 50-day moving average price is $122.17 and its 200-day moving average price is $114.17. The stock has a market capitalization of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during 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 firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX’s payout ratio is presently 72.00%.

About RTX

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.