Quantum Private Wealth LLC Lowers Stock Position in RTX Co. (NYSE:RTX)

Quantum Private Wealth LLC reduced its stake in RTX Co. (NYSE:RTX) by 14.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,606 shares of the company’s stock after selling 2,028 shares during the quarter. Quantum Private Wealth LLC’s holdings in RTX were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Briaud Financial Planning Inc grew 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 acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at approximately $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX during the third quarter valued at approximately $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays raised their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup lifted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Up 0.8 %

NYSE RTX opened at $121.06 on Friday. The stock’s 50 day moving average is $122.08 and its 200 day moving average is $112.54. 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 $78.00 and a 12 month high of $128.70. The stock has a market cap of $161.13 billion, a PE ratio of 34.31, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. Research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. RTX’s dividend payout ratio (DPR) 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.