Aviance Capital Partners LLC Trims Stake in RTX Co. (NYSE:RTX)

Aviance Capital Partners LLC lowered its position in RTX Co. (NYSE:RTX) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,000 shares of the company’s stock after selling 266 shares during the period. Aviance Capital Partners LLC’s holdings in RTX were worth $606,000 as of its most recent SEC filing.

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

RTX Trading Down 0.4 %

Shares of NYSE:RTX opened at $118.94 on Wednesday. The stock’s 50-day simple moving average is $122.13 and its two-hundred day simple moving average is $113.81. The stock has a market capitalization of $158.31 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business 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 $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. RTX’s dividend payout ratio is currently 72.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company reduced their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Nine 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.com, the company has an average rating of “Hold” and an average target price of $177.27.

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.