Sompo Asset Management Co. Ltd. Sells 580 Shares of RTX Co. (NYSE:RTX)

Sompo Asset Management Co. Ltd. reduced its stake in RTX Co. (NYSE:RTX) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,430 shares of the company’s stock after selling 580 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in RTX were worth $779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. WESPAC Advisors LLC raised its position in shares of RTX by 0.9% in the 3rd quarter. WESPAC Advisors LLC now owns 9,820 shares of the company’s stock worth $1,190,000 after acquiring an additional 89 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in RTX by 79.0% in the third quarter. Kingsview Wealth Management LLC now owns 49,732 shares of the company’s stock worth $6,026,000 after purchasing an additional 21,953 shares in the last quarter. Cerity Partners LLC raised its holdings in RTX by 11.6% in the third quarter. Cerity Partners LLC now owns 680,484 shares of the company’s stock worth $82,448,000 after purchasing an additional 70,838 shares in the last quarter. Camden National Bank bought a new stake in shares of RTX during the 3rd quarter valued at $316,000. Finally, Stonebrook Private Inc. purchased a new stake in shares of RTX in the 3rd quarter worth about $229,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE:RTX opened at $120.77 on Friday. 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 market cap of $160.75 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The business has a 50-day simple moving average of $122.17 and a two-hundred day simple moving average of $114.09. RTX Co. has a fifty-two week low of $79.13 and a fifty-two 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 for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RTX shares. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Citigroup upped their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group lifted their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley increased their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

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.