Cutler Investment Counsel LLC Has $14.97 Million Stock Position in RTX Co. (NYSE:RTX)

Cutler Investment Counsel LLC lessened its position in RTX Co. (NYSE:RTX) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,570 shares of the company’s stock after selling 2,905 shares during the quarter. RTX comprises about 1.9% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 16th biggest position. Cutler Investment Counsel LLC’s holdings in RTX were worth $14,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. Briaud Financial Planning Inc increased its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in shares of RTX during the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX during the second quarter worth about $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX during the third quarter valued at about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.2 %

NYSE:RTX traded up $0.24 during trading hours on Friday, hitting $118.53. 6,970,495 shares of the stock were exchanged, compared to its average volume of 6,669,619. The company’s 50 day moving average is $122.20 and its two-hundred day moving average is $113.39. The company has a market capitalization of $157.77 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. RTX Co. has a twelve month low of $78.00 and a twelve 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.

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

RTX Announces Dividend

The firm also recently announced 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 yield of 2.13%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Melius Research lifted their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Nine 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.