RTX Co. (NYSE:RTX) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP decreased its position in RTX Co. (NYSE:RTX) by 81.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,365 shares of the company’s stock after selling 292,935 shares during the period. Concentric Capital Strategies LP’s holdings in RTX were worth $8,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in RTX. Ascent Group LLC lifted its holdings in shares of RTX by 487.1% in the 3rd quarter. Ascent Group LLC now owns 14,671 shares of the company’s stock valued at $1,778,000 after buying an additional 12,172 shares during the period. Benjamin Edwards Inc. grew its position in RTX by 729.7% during the third quarter. Benjamin Edwards Inc. now owns 80,803 shares of the company’s stock valued at $9,793,000 after buying an additional 71,064 shares during the period. Kestra Investment Management LLC purchased a new position in RTX in the third quarter valued at $1,466,000. Point72 Hong Kong Ltd raised its position in shares of RTX by 83.5% in the third quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock worth $10,032,000 after acquiring an additional 37,671 shares during the period. Finally, Paradigm Capital Management LLC NV purchased a new stake in shares of RTX during the 3rd quarter worth about $203,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.2 %

Shares of NYSE:RTX opened at $121.83 on Monday. RTX Co. has a 52-week low of $79.67 and a 52-week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $122.34 and a two-hundred day moving average of $114.61. The stock has a market cap of $162.16 billion, a P/E ratio of 34.81, a PEG ratio of 2.16 and a beta of 0.82.

RTX (NYSE:RTX) last announced 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. The firm 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 quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, research analysts expect that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The firm 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 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 presently 72.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RTX shares. 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. UBS Group boosted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.27.

About RTX

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.