Simmons Bank Sells 1,043 Shares of RTX Co. (NYSE:RTX)

Simmons Bank reduced its holdings in shares of RTX Co. (NYSE:RTX) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,904 shares of the company’s stock after selling 1,043 shares during the quarter. Simmons Bank’s holdings in RTX were worth $3,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empower Advisory Group LLC lifted its position in RTX by 31.9% during the 3rd quarter. Empower Advisory Group LLC now owns 5,968 shares of the company’s stock worth $723,000 after buying an additional 1,442 shares in the last quarter. Carrera Capital Advisors acquired a new stake in RTX in the 3rd quarter valued at about $201,000. Barnett & Company Inc. boosted its stake in shares of RTX by 13.6% during the 3rd quarter. Barnett & Company Inc. now owns 19,580 shares of the company’s stock worth $2,372,000 after acquiring an additional 2,350 shares during the period. Aptus Capital Advisors LLC raised its position in shares of RTX by 40.4% in 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% during 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 currently owned by institutional investors and hedge funds.

RTX Stock Performance

NYSE RTX opened at $123.36 on Wednesday. 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 company has a fifty day simple moving average of $122.16 and a 200 day simple moving average of $113.17. RTX Co. has a 12-month low of $78.00 and a 12-month high of $128.70. The company 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.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for 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 firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. Sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed 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. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.