Bard Financial Services Inc. Lowers Position in RTX Co. (NYSE:RTX)

Bard Financial Services Inc. decreased its position in RTX Co. (NYSE:RTX) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,755 shares of the company’s stock after selling 2,700 shares during the period. Bard Financial Services Inc.’s holdings in RTX were worth $2,999,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Marshall Wace LLP boosted its holdings in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after buying an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in RTX by 11,235.6% during 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 in the last quarter. Fisher Asset Management LLC boosted its holdings in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after buying an additional 702,699 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Susquehanna upped their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Performance

Shares of RTX stock opened at $117.68 on Wednesday. RTX Co. has a one year low of $79.67 and a one year 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 company has a 50 day moving average price of $121.93 and a 200 day moving average price of $115.31. The firm has a market capitalization of $156.63 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.56 EPS for the current 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 given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, November 15th. 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.