RTX Co. (NYSE:RTX) Stock Position Decreased by Essex Savings Bank

Essex Savings Bank trimmed its stake in shares of RTX Co. (NYSE:RTX) by 8.7% during the third quarter, Holdings Channel reports. The firm owned 25,338 shares of the company’s stock after selling 2,412 shares during the period. RTX comprises about 0.8% of Essex Savings Bank’s holdings, making the stock its 26th largest position. Essex Savings Bank’s holdings in RTX were worth $3,070,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RTX. Capital Research Global Investors boosted its holdings in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors grew its position in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc boosted its position in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after buying an additional 408,551 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Melius Research upped their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $177.27.

RTX Trading Up 2.9 %

Shares of RTX stock opened at $123.55 on Friday. 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 company has a market capitalization of $164.45 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.19 and a beta of 0.82. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The firm has a 50-day moving average price of $122.08 and a 200 day moving average price of $112.77.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share 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 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 last year, the firm posted $1.25 EPS. Research analysts forecast 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. Stockholders of record on Friday, November 15th will be given 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 2.04%. RTX’s payout ratio is 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.