Hamilton Point Investment Advisors LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Hamilton Point Investment Advisors LLC reduced its holdings in RTX Co. (NYSE:RTX) by 1.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 119,533 shares of the company’s stock after selling 1,437 shares during the quarter. RTX accounts for about 2.6% of Hamilton Point Investment Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Hamilton Point Investment Advisors LLC’s holdings in RTX were worth $14,483,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC increased its position in shares of RTX by 79.0% during the third quarter. Kingsview Wealth Management LLC now owns 49,732 shares of the company’s stock valued at $6,026,000 after buying an additional 21,953 shares during the period. Cerity Partners LLC boosted its position in RTX by 11.6% during the 3rd quarter. Cerity Partners LLC now owns 680,484 shares of the company’s stock valued at $82,448,000 after acquiring an additional 70,838 shares in the last quarter. Camden National Bank bought a new stake in RTX during the 3rd quarter valued at approximately $316,000. Stonebrook Private Inc. bought a new position in shares of RTX in the 3rd quarter worth approximately $229,000. Finally, Financial Council LLC purchased a new position in shares of RTX in the 3rd quarter valued at approximately $239,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.2 %

NYSE RTX opened at $120.77 on Friday. RTX Co. has a one year low of $79.13 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a 50 day moving average price of $122.17 and a 200-day moving average price of $114.02. The company has a market capitalization of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business earned $1.25 EPS. RTX’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that RTX Co. will post 5.56 EPS 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RTX shares. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna raised their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Citigroup upped their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eight 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Company 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.