RTX Co. (NYSE:RTX) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 30.9% in the third quarter, HoldingsChannel reports. The firm owned 7,288 shares of the company’s stock after selling 3,258 shares during the quarter. Icon Wealth Advisors LLC’s holdings in RTX were worth $883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc increased 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 period. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX during the second quarter worth approximately $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter worth approximately $41,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

RTX stock opened at $120.77 on Friday. The stock has a market cap of $160.75 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a 50 day simple moving average of $122.17 and a 200 day simple moving average of $114.02. RTX Co. has a 52 week low of $79.13 and a 52 week high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts anticipate that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is 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.