Lathrop Investment Management Corp Trims Position in RTX Co. (NYSE:RTX)

Lathrop Investment Management Corp trimmed its stake in shares of RTX Co. (NYSE:RTX) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,178 shares of the company’s stock after selling 138 shares during the period. RTX accounts for 2.8% of Lathrop Investment Management Corp’s portfolio, making the stock its 16th largest holding. Lathrop Investment Management Corp’s holdings in RTX were worth $14,924,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Edgestream Partners L.P. bought a new position in RTX during the first quarter valued at $325,000. Gabelli Funds LLC lifted its holdings in shares of RTX by 68.5% in the 1st quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock worth $5,232,000 after acquiring an additional 21,800 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of RTX by 7.0% in the 1st quarter. Kestra Advisory Services LLC now owns 249,474 shares of the company’s stock worth $24,331,000 after acquiring an additional 16,304 shares during the last quarter. Ceeto Capital Group LLC lifted its holdings in shares of RTX by 1.5% in the 1st quarter. Ceeto Capital Group LLC now owns 20,887 shares of the company’s stock worth $2,038,000 after acquiring an additional 300 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of RTX by 51.7% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 710 shares of the company’s stock worth $69,000 after acquiring an additional 242 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE RTX opened at $120.14 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The company has a 50 day simple moving average of $122.13 and a two-hundred day simple moving average of $113.89. The stock has a market cap of $159.91 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.11 and a beta of 0.82.

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

RTX Dividend Announcement

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 paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Analysts Set New Price Targets

Several research firms recently commented on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Nine 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.