Moran Wealth Management LLC Sells 111 Shares of RTX Co. (NYSE:RTX)

Moran Wealth Management LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,824 shares of the company’s stock after selling 111 shares during the quarter. Moran Wealth Management LLC’s holdings in RTX were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RTX. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX during the 2nd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the 3rd quarter worth approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter valued at approximately $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at $41,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RTX. JPMorgan Chase & Co. upped their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.27.

RTX Stock Up 0.8 %

Shares of NYSE RTX opened at $120.14 on Friday. The business has a 50-day moving average of $122.13 and a 200-day moving average of $113.89. The firm has a market capitalization of $159.91 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.11 and a beta of 0.82. 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.

RTX (NYSE:RTX) last issued its quarterly 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. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts expect that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

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