Clifford Capital Partners LLC Reduces Position in RTX Co. (NYSE:RTX)

Clifford Capital Partners LLC cut its position in shares of RTX Co. (NYSE:RTX) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 156,426 shares of the company’s stock after selling 5,397 shares during the period. RTX comprises about 3.8% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 6th largest holding. Clifford Capital Partners LLC’s holdings in RTX were worth $18,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Fisher Asset Management LLC lifted its position in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Legal & General Group Plc raised its stake in RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. boosted its position in RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RTX by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after acquiring an additional 417,789 shares during the period. Finally, FMR LLC raised its position in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of a number of recent research reports. Wells Fargo & Company raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Up 1.7 %

Shares of NYSE RTX opened at $120.62 on Wednesday. The firm has a market cap of $160.55 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth 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’s 50-day simple moving average is $122.16 and its 200-day simple moving average is $114.26. 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 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. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a yield of 2.09%. RTX’s dividend payout ratio is presently 72.00%.

About RTX

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.