RTX Co. (NYSE:RTX) Shares Sold by ING Groep NV

ING Groep NV decreased its stake in shares of RTX Co. (NYSE:RTX) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 177,907 shares of the company’s stock after selling 994 shares during the quarter. ING Groep NV’s holdings in RTX were worth $21,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. 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 acquired a new position in shares of RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the 2nd quarter valued at $41,000. Finally, Western Pacific Wealth Management LP purchased a new stake in RTX during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 3.9 %

NYSE:RTX opened at $118.92 on Friday. The stock has a fifty day simple moving average of $122.20 and a 200 day simple moving average of $113.28. The firm has a market capitalization of $158.28 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70. 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 (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 net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s payout ratio is 72.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RTX shares. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price target 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. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.