Baldwin Investment Management LLC Sells 326 Shares of RTX Co. (NYSE:RTX)

Baldwin Investment Management LLC trimmed its position in RTX Co. (NYSE:RTX) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,377 shares of the company’s stock after selling 326 shares during the quarter. RTX comprises about 0.6% of Baldwin Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Baldwin Investment Management LLC’s holdings in RTX were worth $4,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its position in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC lifted its position in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC increased its position in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares during the period. Finally, abrdn plc lifted its holdings in shares of RTX by 527.6% in the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock worth $72,852,000 after acquiring an additional 509,261 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

NYSE RTX opened at $120.62 on Wednesday. The company has a market cap of $160.55 billion, a PE ratio of 34.46, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $79.13 and a 52-week 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 firm’s 50 day moving average price is $122.16 and its 200-day moving average price is $114.26.

RTX (NYSE:RTX) last announced its quarterly earnings results 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. The business 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%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. Sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

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

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent analyst reports. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Barclays increased their price target on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Wells Fargo & Company upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus 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.