Primecap Management Co. CA Reduces Holdings in RTX Co. (NYSE:RTX)

Primecap Management Co. CA lowered its position in RTX Co. (NYSE:RTX) by 0.1% during the third quarter, according to its most recent filing with the SEC. 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 quarter.

Other large investors have also modified their holdings of the company. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the second quarter worth $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in RTX in the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $120.14 on Friday. 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 stock has a market capitalization of $159.91 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business has a 50-day moving average of $122.13 and a 200 day moving average of $113.89. 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, 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

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

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.