True Wealth Design LLC Cuts Stake in RTX Co. (NYSE:RTX)

True Wealth Design LLC lessened its stake in RTX Co. (NYSE:RTX) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387 shares of the company’s stock after selling 211 shares during the quarter. True Wealth Design LLC’s holdings in RTX were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Cobblestone Capital Advisors LLC NY grew its holdings in shares of RTX by 7.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 10,885 shares of the company’s stock valued at $1,319,000 after buying an additional 732 shares during the last quarter. Tradition Wealth Management LLC lifted its position in RTX by 1.8% in the 3rd quarter. Tradition Wealth Management LLC now owns 5,071 shares of the company’s stock valued at $614,000 after acquiring an additional 91 shares in the last quarter. Encompass More Asset Management purchased a new stake in RTX during the 3rd quarter valued at $765,000. Edgestream Partners L.P. increased its holdings in shares of RTX by 323.1% in the 3rd quarter. Edgestream Partners L.P. now owns 33,942 shares of the company’s stock worth $4,112,000 after purchasing an additional 25,920 shares in the last quarter. Finally, Acropolis Investment Management LLC raised its stake in shares of RTX by 2.0% in the third quarter. Acropolis Investment Management LLC now owns 5,233 shares of the company’s stock worth $634,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RTX shares. Susquehanna lifted their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group increased their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Performance

Shares of RTX opened at $121.83 on Monday. The business has a 50-day simple moving average of $122.34 and a two-hundred day simple moving average of $114.61. 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 Co. has a 52 week low of $79.67 and a 52 week high of $128.70. The stock has a market cap of $162.16 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.16 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, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. On average, analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The company also recently announced 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 yield of 2.07%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

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.