Independent Solutions Wealth Management LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Independent Solutions Wealth Management LLC reduced its position in RTX Co. (NYSE:RTX) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,272 shares of the company’s stock after selling 1,076 shares during the period. Independent Solutions Wealth Management LLC’s holdings in RTX were worth $1,608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX during the 3rd quarter valued at approximately $29,000. Briaud Financial Planning Inc grew its holdings in 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 acquiring an additional 100 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter worth about $32,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX in the 3rd quarter valued at about $41,000. Finally, Fairfield Financial Advisors LTD acquired a new position in RTX in the second quarter worth about $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $177.93.

RTX Stock Performance

RTX stock traded up $1.53 during midday trading on Thursday, hitting $115.98. 1,933,129 shares of the company traded hands, compared to its average volume of 6,437,213. The stock has a market capitalization of $154.37 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. RTX Co. has a twelve month low of $81.37 and a twelve month 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 50 day simple moving average of $121.04 and a 200-day simple moving average of $115.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, equities research analysts predict 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 was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. RTX’s payout ratio is presently 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.