RTX Co. (NYSE:RTX) Holdings Cut by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. decreased its stake in RTX Co. (NYSE:RTX) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,225 shares of the company’s stock after selling 1,039 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in RTX were worth $1,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new position in shares of RTX during the second quarter worth about $30,837,000. O Shaughnessy Asset Management LLC grew its holdings in RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares in the last quarter. Kennebec Savings Bank acquired a new position in RTX during the 3rd quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock valued at $44,250,000 after purchasing an additional 97,749 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 0.2 %

Shares of RTX stock opened at $118.53 on Friday. The stock has a 50-day simple moving average of $122.20 and a 200-day simple moving average of $113.39. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The firm has a market cap of $157.76 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 2.19 and a beta of 0.82. 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 posted its 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. The firm had revenue of $20.09 billion during 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 company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RTX. Royal Bank of Canada increased their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup boosted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.