Platform Technology Partners Lowers Stake in RTX Co. (NYSE:RTX)

Platform Technology Partners cut its stake in RTX Co. (NYSE:RTX) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,646 shares of the company’s stock after selling 94 shares during the quarter. RTX comprises about 1.0% of Platform Technology Partners’ portfolio, making the stock its 20th biggest position. Platform Technology Partners’ holdings in RTX were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the second quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of RTX in the 3rd quarter valued at approximately $41,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Susquehanna raised their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Barclays boosted their target price 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. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average price target of $177.27.

RTX Price Performance

Shares of NYSE RTX opened at $124.56 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $165.79 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The stock’s 50-day moving average is $122.11 and its two-hundred day moving average is $113.01. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. 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.