Olstein Capital Management L.P. Sells 12,000 Shares of RTX Co. (NYSE:RTX)

Olstein Capital Management L.P. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 17.1% in the third quarter, HoldingsChannel.com reports. The fund owned 58,000 shares of the company’s stock after selling 12,000 shares during the period. Olstein Capital Management L.P.’s holdings in RTX were worth $7,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors lifted its holdings in shares of RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its stake in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC boosted its position in RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc lifted its holdings in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.52 during midday trading on Thursday, hitting $121.07. The company had a trading volume of 208,740 shares, compared to its average volume of 6,695,711. The company has a market cap of $161.15 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.09 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a fifty day moving average of $122.13 and a two-hundred day moving average of $112.48. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid 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 2.08%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. Susquehanna raised their price target on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Morgan Stanley raised their price objective 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. Finally, Barclays upped their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus target price of $177.27.

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.