Allen Capital Group LLC Trims Position in RTX Co. (NYSE:RTX)

Allen Capital Group LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 9.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,924 shares of the company’s stock after selling 306 shares during the quarter. Allen Capital Group LLC’s holdings in RTX were worth $354,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Trading Up 0.2 %

Shares of RTX opened at $120.77 on Friday. The firm has a fifty day simple moving average of $122.17 and a two-hundred day simple moving average of $114.02. RTX Co. has a twelve month low of $79.13 and a twelve month high of $128.70. The stock has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a PEG ratio of 2.13 and a beta of 0.82. 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 posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. 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 2.09%. RTX’s dividend 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.