RTX Co. (NYSE:RTX) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its position in shares of RTX Co. (NYSE:RTX) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,530 shares of the company’s stock after selling 647 shares during the period. RTX accounts for 1.3% of Patten & Patten Inc. TN’s holdings, making the stock its 17th biggest position. Patten & Patten Inc. TN’s holdings in RTX were worth $18,844,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its stake in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Marshall Wace LLP grew its holdings in shares of RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC increased its stake in RTX by 11,235.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares during the period. Finally, Hsbc Holdings PLC boosted its position in RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after buying an additional 792,830 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 2.9 %

Shares of RTX stock opened at $123.55 on Monday. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $122.08 and its 200-day moving average is $112.85. The stock has a market cap of $164.45 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RTX shares. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Susquehanna boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.27.

RTX Company 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.