Telos Capital Management Inc. Trims Stock Position in RTX Co. (NYSE:RTX)

Telos Capital Management Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 56,864 shares of the company’s stock after selling 566 shares during the quarter. Telos Capital Management Inc.’s holdings in RTX were worth $6,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RTX. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the 2nd quarter worth $41,000. Finally, ORG Wealth Partners LLC acquired a new position in RTX in the third quarter valued at $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.0 %

NYSE:RTX opened at $125.90 on Tuesday. The stock has a 50-day simple moving average of $120.91 and a 200 day simple moving average of $110.55. RTX Co. has a one year low of $72.52 and a one year high of $127.00. The company has a market capitalization of $167.38 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. Sell-side analysts predict that RTX Co. will post 5.45 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. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s payout ratio is currently 98.82%.

Analyst Ratings Changes

RTX has been the topic of several research analyst reports. Wells Fargo & Company reduced 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. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.50.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

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.