RTX Co. (NYSE:RTX) Shares Sold by Chelsea Counsel Co.

Chelsea Counsel Co. trimmed its position in RTX Co. (NYSE:RTX) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,450 shares of the company’s stock after selling 1,900 shares during the period. RTX makes up about 1.5% of Chelsea Counsel Co.’s portfolio, making the stock its 18th largest holding. Chelsea Counsel Co.’s holdings in RTX were worth $3,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elgethun Capital Management lifted its stake in RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the period. Avestar Capital LLC lifted its stake in RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. Blackston Financial Advisory Group LLC lifted its stake in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares during the period. Finally, Canal Capital Management LLC lifted its stake in RTX by 2.1% during the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after purchasing an additional 87 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. Barclays raised their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $116.94 on Thursday. 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 firm has a market cap of $155.65 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.09 and a beta of 0.80. The firm has a 50 day simple moving average of $121.79 and a 200 day simple moving average of $115.32. RTX Co. has a fifty-two week low of $79.67 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 2.15%. RTX’s payout ratio is presently 72.00%.

RTX 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.