Keudell Morrison Wealth Management Sells 671 Shares of RTX Co. (NYSE:RTX)

Keudell Morrison Wealth Management decreased its stake in shares of RTX Co. (NYSE:RTX) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,070 shares of the company’s stock after selling 671 shares during the period. Keudell Morrison Wealth Management’s holdings in RTX were worth $1,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors increased its stake in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Marshall Wace LLP grew its stake in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after acquiring an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC grew its stake in RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on RTX shares. Royal Bank of Canada raised their target price on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Performance

NYSE RTX traded down $0.38 during mid-day trading on Thursday, reaching $121.21. 300,058 shares of the stock were exchanged, compared to its average volume of 6,696,134. The business’s 50 day moving average is $122.13 and its 200-day moving average is $112.48. RTX Co. has a 1 year low of $78.00 and a 1 year high of $128.70. The company has a market capitalization of $161.33 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.09 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.

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 analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. On average, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) 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.