Keynote Financial Services LLC Reduces Position in RTX Co. (NYSE:RTX)

Keynote Financial Services LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,524 shares of the company’s stock after selling 601 shares during the period. RTX accounts for approximately 2.8% of Keynote Financial Services LLC’s holdings, making the stock its 4th biggest position. Keynote Financial Services LLC’s holdings in RTX were worth $3,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Briaud Financial Planning Inc lifted its holdings in shares of 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 buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth about $41,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of RTX during the third quarter valued at about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Ten research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Price Performance

Shares of RTX stock opened at $120.08 on Friday. The firm’s 50 day moving average price is $122.08 and its two-hundred day moving average price is $112.54. 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 Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The stock has a market cap of $159.83 billion, a PE ratio of 34.31, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly 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 business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. As a group, analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. RTX’s dividend payout ratio is 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.