Hancock Whitney Corp Trims Stock Holdings in RTX Co. (NYSE:RTX)

Hancock Whitney Corp lowered its position in shares of RTX Co. (NYSE:RTX) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,653 shares of the company’s stock after selling 330 shares during the quarter. Hancock Whitney Corp’s holdings in RTX were worth $1,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RTX. Elgethun Capital Management lifted its position in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its stake in RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares in the last quarter. Canal Capital Management LLC grew its holdings in RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company’s stock worth $515,000 after purchasing an additional 87 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC increased its position in shares of RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. UBS Group raised their price objective on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Eight 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 company. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Stock Performance

NYSE RTX opened at $118.65 on Tuesday. The firm has a market capitalization of $157.93 billion, a P/E ratio of 33.90, a PEG ratio of 2.14 and a beta of 0.82. The stock has a 50-day simple moving average of $122.16 and a two-hundred day simple moving average of $114.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $79.13 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last posted its 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the company earned $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

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 paid 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 dividend payout ratio is currently 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.