Jackson Square Capital LLC Cuts Position in RTX Co. (NYSE:RTX)

Jackson Square Capital LLC lessened its holdings in RTX Co. (NYSE:RTX) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,533 shares of the company’s stock after selling 100 shares during the period. Jackson Square Capital LLC’s holdings in RTX were worth $549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in shares of RTX in the 2nd quarter worth approximately $30,837,000. O Shaughnessy Asset Management LLC raised its holdings in shares of 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 purchasing an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after purchasing an additional 11,354 shares during the period. Cetera Investment Advisers raised its holdings in shares of RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX during the 2nd quarter valued at $602,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Ten research 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

Shares of NYSE:RTX opened at $121.59 on Thursday. The company has a market cap of $161.83 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. The company has a 50-day moving average price of $122.13 and a 200-day moving average price of $112.48. 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 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 firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

RTX 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.