Hancock Whitney Corp Cuts Stake in RTX Co. (NYSE:RTX)

Hancock Whitney Corp cut its stake in RTX Co. (NYSE:RTX) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,653 shares of the company’s stock after selling 330 shares during the quarter. Hancock Whitney Corp’s holdings in RTX were worth $1,897,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Elgethun Capital Management raised its holdings in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC raised its stake in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares during the period. Canal Capital Management LLC boosted its holdings in RTX by 2.1% in the 3rd quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock valued at $515,000 after purchasing an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its stake in shares of RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on RTX. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Susquehanna raised their price objective 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. boosted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Trading Down 1.8 %

Shares of RTX stock opened at $118.65 on Tuesday. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week high of $128.70. The company has a 50 day moving average price of $122.16 and a 200 day moving average price of $114.26. The stock has a market capitalization of $157.93 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for 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%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. 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 2.12%. 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.