Glenmede Trust Co. NA Lowers Position in RTX Co. (NYSE:RTX)

Glenmede Trust Co. NA lowered its position in RTX Co. (NYSE:RTX) by 0.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,278,973 shares of the company’s stock after selling 580 shares during the quarter. RTX makes up about 0.7% of Glenmede Trust Co. NA’s holdings, making the stock its 25th largest position. Glenmede Trust Co. NA’s holdings in RTX were worth $154,960,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX during the 2nd quarter worth $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the 2nd quarter valued at about $32,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of RTX in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $120.62 on Wednesday. The firm has a market cap of $160.55 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.10 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 Co. has a 1 year low of $79.13 and a 1 year high of $128.70. The stock has a 50-day simple moving average of $122.16 and a 200-day simple moving average of $114.26.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business 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%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, equities analysts predict that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 2.09%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 72.00%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RTX shares. Barclays upped their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Citigroup lifted their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Susquehanna raised their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Eight 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.