Beacon Investment Advisory Services Inc. Has $10.99 Million Stock Holdings in RTX Co. (NYSE:RTX)

Beacon Investment Advisory Services Inc. cut its holdings in shares of RTX Co. (NYSE:RTX) by 1.4% in the third quarter, HoldingsChannel reports. The fund owned 90,665 shares of the company’s stock after selling 1,260 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in RTX were worth $10,985,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the last quarter. International Assets Investment Management LLC raised its position in RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Fisher Asset Management LLC lifted its stake in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of RTX by 527.6% in the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after purchasing an additional 509,261 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna increased their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Price Performance

RTX stock opened at $121.83 on Monday. The company has a market capitalization of $162.16 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.82. The business has a 50 day simple moving average of $122.34 and a 200 day simple moving average of $114.61. RTX Co. has a one year low of $79.67 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly 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, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 72.00%.

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.