First Commonwealth Financial Corp PA Cuts Stock Position in RTX Co. (NYSE:RTX)

First Commonwealth Financial Corp PA trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,023 shares of the company’s stock after selling 98 shares during the period. First Commonwealth Financial Corp PA’s holdings in RTX were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc raised 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 buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX during the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the third quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the second quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in RTX during the 2nd quarter valued at $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.80 during trading on Wednesday, hitting $121.41. 185,613 shares of the company traded hands, compared to its average volume of 6,581,814. RTX Co. has a one year low of $79.57 and a one year high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $122.16 and its 200-day moving average is $114.26. The stock has a market capitalization of $161.60 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.08%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley increased their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

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.