Logan Capital Management Inc. Reduces Position in RTX Co. (NYSE:RTX)

Logan Capital Management Inc. decreased its position in RTX Co. (NYSE:RTX) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,574 shares of the company’s stock after selling 2,313 shares during the period. Logan Capital Management Inc.’s holdings in RTX were worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Geode Capital Management LLC lifted its holdings in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the period. Fisher Asset Management LLC raised its position in RTX by 4.8% during the 3rd 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 during the last quarter. Legal & General Group Plc lifted its stake in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the period. Ameriprise Financial Inc. lifted its stake 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 during the period. Finally, Dimensional Fund Advisors LP boosted 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 last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 1.5 %

Shares of NYSE RTX opened at $117.76 on Friday. The firm has a market cap of $156.74 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. The company’s 50-day simple moving average is $121.49 and its 200-day simple moving average is $115.41. 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 Co. has a 52-week low of $79.67 and a 52-week high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the firm posted $1.25 EPS. RTX’s revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RTX shares. Barclays raised their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Susquehanna upped their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped 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 analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.27.

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.