Atlantic Union Bankshares Corp Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Atlantic Union Bankshares Corp lessened its holdings in RTX Co. (NYSE:RTX) by 3.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 82,957 shares of the company’s stock after selling 3,296 shares during the period. Atlantic Union Bankshares Corp’s holdings in RTX were worth $10,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Martingale Asset Management L P raised its stake in RTX by 2,059.9% during the 3rd quarter. Martingale Asset Management L P now owns 95,229 shares of the company’s stock valued at $11,538,000 after purchasing an additional 90,820 shares during the period. Infrastructure Capital Advisors LLC bought a new stake in shares of RTX during the third quarter valued at approximately $238,000. Vinva Investment Management Ltd lifted its holdings in shares of RTX by 24.9% in the third quarter. Vinva Investment Management Ltd now owns 10,273 shares of the company’s stock worth $1,237,000 after buying an additional 2,048 shares in the last quarter. Financial Counselors Inc. boosted its position in shares of RTX by 0.7% during the third quarter. Financial Counselors Inc. now owns 480,148 shares of the company’s stock worth $58,175,000 after acquiring an additional 3,258 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after acquiring an additional 140,697 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

RTX Price Performance

RTX stock opened at $120.34 on Friday. RTX Co. has a 12-month low of $79.57 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $122.24 and a 200-day moving average price of $114.40. The firm has a market capitalization of $160.17 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last announced 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 net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.09%. RTX’s payout ratio is 72.00%.

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.