RTX Co. (NYSE:RTX) Stock Position Decreased by Hemenway Trust Co LLC

Hemenway Trust Co LLC decreased its position in RTX Co. (NYSE:RTX) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,528 shares of the company’s stock after selling 2,490 shares during the quarter. RTX comprises 2.4% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 19th largest holding. Hemenway Trust Co LLC’s holdings in RTX were worth $30,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc boosted its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX in the 2nd quarter valued at about $41,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of RTX in the third quarter worth about $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.3 %

Shares of NYSE:RTX traded down $0.43 during mid-day trading on Tuesday, reaching $124.13. 161,318 shares of the stock were exchanged, compared to its average volume of 6,670,816. The company has a market cap of $165.22 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.19 and a beta of 0.82. The stock’s 50 day simple moving average is $122.11 and its 200-day simple moving average is $113.01. 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 one year low of $78.00 and a one year high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business 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 for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 72.00%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.