Iron Gate Global Advisors LLC Has $18.18 Million Stock Holdings in RTX Co. (NYSE:RTX)

Iron Gate Global Advisors LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 150,011 shares of the company’s stock after selling 8,583 shares during the quarter. RTX makes up about 2.8% of Iron Gate Global Advisors LLC’s holdings, making the stock its 12th largest position. Iron Gate Global Advisors LLC’s holdings in RTX were worth $18,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX during the second quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in RTX in the 2nd quarter valued at $32,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX during the second quarter valued at $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RTX. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. UBS Group increased their price objective on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of RTX from $122.00 to $132.00 and gave the company 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 note on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.27.

RTX Stock Down 2.6 %

RTX stock opened at $118.67 on Tuesday. RTX Co. has a fifty-two week low of $79.67 and a fifty-two week high of $128.70. The firm has a fifty day moving average price of $122.34 and a two-hundred day moving average price of $114.68. 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 firm has a market cap of $157.95 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.16 and a beta of 0.80.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 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 business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the prior year, the firm posted $1.25 EPS. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.