Bridges Investment Management Inc. Sells 777 Shares of RTX Co. (NYSE:RTX)

Bridges Investment Management Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,127 shares of the company’s stock after selling 777 shares during the period. Bridges Investment Management Inc.’s holdings in RTX were worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc raised its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the 2nd quarter worth about $41,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $123.55 on Friday. RTX Co. has a 1 year low of $78.00 and a 1 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. The stock has a market capitalization of $164.45 billion, a PE ratio of 35.30, a P/E/G ratio of 2.15 and a beta of 0.82. The company’s 50 day simple moving average is $122.08 and its two-hundred day simple moving average is $112.69.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. Analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Citigroup upped their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group increased their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.27.

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.