Prime Capital Investment Advisors LLC Has $23.14 Million Holdings in RTX Co. (NYSE:RTX)

Prime Capital Investment Advisors LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,959 shares of the company’s stock after selling 29,778 shares during the period. Prime Capital Investment Advisors LLC’s holdings in RTX were worth $23,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Elgethun Capital Management boosted its holdings in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. Blackston Financial Advisory Group LLC grew its position in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the last quarter. Canal Capital Management LLC grew its position in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after acquiring an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its position in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $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.

Analyst Ratings Changes

A number of brokerages have weighed in on RTX. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Ten 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 0.6 %

RTX stock traded down $0.75 during trading on Tuesday, hitting $123.81. 169,876 shares of the company traded hands, compared to its average volume of 6,671,434. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. 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 50-day moving average of $122.11 and a 200-day moving average of $113.01. The firm has a market capitalization of $164.79 billion, a PE ratio of 35.59, a P/E/G ratio of 2.19 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 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.