RTX Co. (NYSE:RTX) is Verity & Verity LLC’s 8th Largest Position

Verity & Verity LLC lowered its stake in RTX Co. (NYSE:RTX) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,113 shares of the company’s stock after selling 26,389 shares during the period. RTX makes up approximately 2.7% of Verity & Verity LLC’s holdings, making the stock its 8th largest holding. Verity & Verity LLC’s holdings in RTX were worth $27,275,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the third quarter worth about $29,000. Briaud Financial Planning Inc grew its position in shares of RTX by 64.1% in the 2nd 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 purchased a new position in shares of RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the second quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP purchased a new stake in RTX in the third quarter worth $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock opened at $119.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $158.92 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company’s 50-day moving average is $122.16 and its 200 day moving average is $113.68.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.11%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Ratings Changes

RTX has been the subject of several research reports. Robert W. Baird upped their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Nine investment 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. According to MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target 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.