Processus Wealth & Capital Management LLC Sells 907 Shares of RTX Co. (NYSE:RTX)

Processus Wealth & Capital Management LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,609 shares of the company’s stock after selling 907 shares during the quarter. RTX accounts for about 2.4% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 20th largest position. Processus Wealth & Capital Management LLC’s holdings in RTX were worth $2,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Research Global Investors lifted its stake in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its position in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC boosted its stake in RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares during the period. Legal & General Group Plc increased its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after acquiring an additional 408,551 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Ten 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $177.27.

RTX Price Performance

NYSE RTX opened at $123.55 on Friday. The stock’s fifty day moving average price is $122.08 and its 200 day moving average price is $112.69. 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 company has a market cap of $164.45 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.15 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company 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 for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. As a group, equities research analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. 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.