Souders Financial Advisors Lowers Position in RTX Co. (NYSE:RTX)

Souders Financial Advisors cut its holdings in RTX Co. (NYSE:RTX) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,009 shares of the company’s stock after selling 175 shares during the period. Souders Financial Advisors’ holdings in RTX were worth $4,484,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RTX. Empower Advisory Group LLC grew its holdings in RTX by 31.9% during the third quarter. Empower Advisory Group LLC now owns 5,968 shares of the company’s stock valued at $723,000 after purchasing an additional 1,442 shares during the period. Carrera Capital Advisors bought a new position in RTX during the third quarter valued at $201,000. Barnett & Company Inc. grew its holdings in RTX by 13.6% during the third quarter. Barnett & Company Inc. now owns 19,580 shares of the company’s stock valued at $2,372,000 after purchasing an additional 2,350 shares during the period. Aptus Capital Advisors LLC grew its holdings in RTX by 40.4% during the third quarter. Aptus Capital Advisors LLC now owns 19,375 shares of the company’s stock valued at $2,347,000 after purchasing an additional 5,578 shares during the period. Finally, Savvy Advisors Inc. boosted its holdings in shares of RTX by 11.1% in the third quarter. Savvy Advisors Inc. now owns 8,973 shares of the company’s stock worth $1,087,000 after acquiring an additional 896 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and raised their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Susquehanna increased 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. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Price Performance

Shares of NYSE RTX opened at $123.36 on Wednesday. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The firm has a market cap of $164.19 billion, a P/E ratio of 35.25, a PEG ratio of 2.20 and a beta of 0.82. The company has a 50 day moving average of $122.16 and a 200 day moving average of $113.17. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last announced its 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid 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 yield of 2.04%. RTX’s dividend payout ratio is presently 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.