Griffin Asset Management Inc. Has $9.74 Million Stock Holdings in RTX Co. (NYSE:RTX)

Griffin Asset Management Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,384 shares of the company’s stock after selling 1,303 shares during the quarter. RTX accounts for 1.1% of Griffin Asset Management Inc.’s holdings, making the stock its 29th biggest holding. Griffin Asset Management Inc.’s holdings in RTX were worth $9,739,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the 2nd quarter valued at $41,000. Finally, Alaska Permanent Fund Corp bought a new position in shares of RTX in the 1st quarter valued at $42,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.2 %

RTX opened at $124.92 on Wednesday. The stock has a market cap of $166.08 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 2.18 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 0.66. RTX Co. has a twelve month low of $72.48 and a twelve month high of $126.82. The company has a fifty day moving average of $120.26 and a 200-day moving average of $109.96.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the company posted $1.29 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that RTX Co. will post 5.46 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 98.82%.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $162.50.

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.