LS Investment Advisors LLC Cuts Stake in RTX Co. (NYSE:RTX)

LS Investment Advisors LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,413 shares of the company’s stock after selling 1,535 shares during the period. RTX comprises 1.5% of LS Investment Advisors LLC’s investment portfolio, making the stock its 25th biggest position. LS Investment Advisors LLC’s holdings in RTX were worth $10,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Elgethun Capital Management boosted its position 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 acquiring an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position 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 acquiring an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its position 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 acquiring an additional 86 shares during the last quarter. Canal Capital Management LLC boosted its position 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 acquiring an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its position in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $120.08 on Friday. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week high of $128.70. The firm’s 50 day moving average price is $122.08 and its 200 day moving average price is $112.54. The company has a market cap of $159.83 billion, a P/E ratio of 34.31, a PEG ratio of 2.15 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 announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 in the prior year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

RTX has been the topic of several recent analyst reports. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Robert W. Baird boosted their target price on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus 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.