Affinity Investment Advisors LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Affinity Investment Advisors LLC cut its position in shares of RTX Co. (NYSE:RTX) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the company’s stock after selling 135 shares during the quarter. Affinity Investment Advisors LLC’s holdings in RTX were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Capital Research Global Investors lifted its position in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc grew its holdings 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 purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after buying an additional 408,551 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $118.75 on Friday. RTX Co. has a twelve month low of $78.00 and a twelve month high of $128.70. The business’s 50 day moving average is $122.13 and its 200-day moving average is $112.02. The stock has a market cap of $158.06 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during 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%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. On average, analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. UBS Group upped their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.