Lowe Brockenbrough & Co. Inc. Reduces Holdings in RTX Co. (NYSE:RTX)

Lowe Brockenbrough & Co. Inc. lowered its position in RTX Co. (NYSE:RTX) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,557 shares of the company’s stock after selling 1,722 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in RTX were worth $12,184,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc grew its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter worth about $41,000. Finally, Stephens Consulting LLC increased its position in shares of RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted 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. Barclays increased 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. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $177.27.

RTX Trading Down 1.9 %

Shares of NYSE:RTX opened at $118.75 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. The business’s 50-day moving average is $122.13 and its 200 day moving average is $112.02. RTX Co. has a 1 year low of $78.00 and a 1 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, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during 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%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, research analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 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.