Great Valley Advisor Group Inc. Reduces Position in RTX Co. (NYSE:RTX)

Great Valley Advisor Group Inc. reduced its stake in RTX Co. (NYSE:RTX) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,844 shares of the company’s stock after selling 9,285 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in RTX were worth $2,162,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Earnest Partners LLC grew its holdings in RTX by 2.9% in the first quarter. Earnest Partners LLC now owns 8,054 shares of the company’s stock valued at $786,000 after purchasing an additional 225 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in RTX by 0.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 92,700 shares of the company’s stock valued at $9,041,000 after acquiring an additional 581 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in RTX by 65.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 118,110 shares of the company’s stock valued at $11,519,000 after buying an additional 46,510 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in RTX by 41.2% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,395 shares of the company’s stock valued at $331,000 after buying an additional 990 shares in the last quarter. Finally, Slagle Financial LLC acquired a new position in shares of RTX in the 1st quarter valued at about $2,795,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $120.77 on Monday. The firm has a 50 day moving average of $122.17 and a 200-day moving average of $114.17. The firm has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $79.13 and a 12 month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday. Morgan Stanley lifted their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Eight equities research 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, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

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.