Valley Brook Capital Group Inc. Trims Stock Position in RTX Co. (NYSE:RTX)

Valley Brook Capital Group Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,555 shares of the company’s stock after selling 385 shares during the period. RTX makes up 1.9% of Valley Brook Capital Group Inc.’s investment portfolio, making the stock its 12th largest holding. Valley Brook Capital Group Inc.’s holdings in RTX were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Briaud Financial Planning Inc raised its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX during the 2nd quarter valued at about $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX in the third quarter worth about $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RTX shares. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. Royal Bank of Canada boosted 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. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Stock Performance

Shares of RTX stock traded down $0.45 on Thursday, reaching $121.14. The stock had a trading volume of 229,301 shares, compared to its average volume of 6,695,806. The stock has a market cap of $161.24 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. 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 Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The company has a 50 day simple moving average of $122.13 and a 200 day simple moving average of $112.48.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

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.