Endowment Wealth Management Inc. Sells 301 Shares of RTX Co. (NYSE:RTX)

Endowment Wealth Management Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,359 shares of the company’s stock after selling 301 shares during the period. Endowment Wealth Management Inc.’s holdings in RTX were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc lifted 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 purchasing an additional 100 shares during the period. 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 in the third quarter worth approximately $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $123.75 on Thursday. The stock has a market capitalization of $164.71 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.18 and a beta of 0.82. The company has a fifty day moving average of $122.21 and a 200 day moving average of $113.24. RTX Co. has a fifty-two week low of $78.00 and a fifty-two week 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.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date 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 presently 72.00%.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Barclays increased their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Susquehanna increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.