RTX Co. (NYSE:RTX) Shares Sold by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC cut its position in RTX Co. (NYSE:RTX) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,264 shares of the company’s stock after selling 1,750 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in RTX were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Klingman & Associates LLC purchased a new stake in shares of RTX during the third quarter worth about $745,000. Assetmark Inc. increased its holdings in RTX by 10.7% during the 3rd quarter. Assetmark Inc. now owns 143,375 shares of the company’s stock worth $17,371,000 after purchasing an additional 13,829 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of RTX by 8.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 32,443 shares of the company’s stock valued at $3,931,000 after purchasing an additional 2,401 shares in the last quarter. Townsend & Associates Inc grew its position in shares of RTX by 1.5% during the third quarter. Townsend & Associates Inc now owns 175,282 shares of the company’s stock worth $22,298,000 after buying an additional 2,573 shares in the last quarter. Finally, Beta Wealth Group Inc. increased its stake in shares of RTX by 12.8% in the third quarter. Beta Wealth Group Inc. now owns 5,312 shares of the company’s stock worth $644,000 after buying an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX traded up $3.47 during midday trading on Friday, hitting $123.55. 6,382,044 shares of the company’s stock were exchanged, compared to its average volume of 6,713,645. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The firm has a market cap of $164.45 billion, a P/E ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82. The stock’s 50 day moving average price is $122.08 and its 200-day moving average price is $112.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. 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. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Finally, UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Ten research 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, RTX currently has a consensus rating of “Hold” and a consensus price target 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.