Frank Rimerman Advisors LLC Sells 2,871 Shares of RTX Co. (NYSE:RTX)

Frank Rimerman Advisors LLC lowered its position in shares of RTX Co. (NYSE:RTX) by 33.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,698 shares of the company’s stock after selling 2,871 shares during the period. Frank Rimerman Advisors LLC’s holdings in RTX were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Cornerstone Wealth Group LLC bought a new stake in shares of RTX during the first quarter valued at approximately $246,000. SteelPeak Wealth LLC increased its position in shares of RTX by 8.5% during the first quarter. SteelPeak Wealth LLC now owns 5,103 shares of the company’s stock valued at $498,000 after acquiring an additional 400 shares in the last quarter. Claro Advisors LLC boosted its holdings in RTX by 6.5% in the first quarter. Claro Advisors LLC now owns 11,259 shares of the company’s stock worth $1,098,000 after purchasing an additional 685 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in RTX by 21.8% in the first quarter. Tributary Capital Management LLC now owns 9,494 shares of the company’s stock worth $926,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in RTX by 13.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 393,854 shares of the company’s stock worth $38,413,000 after purchasing an additional 46,541 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RTX. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Susquehanna raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $175.27.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock opened at $125.16 on Monday. 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 capitalization of $166.59 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $77.76 and a 1-year high of $128.70. The company’s 50-day moving average is $121.74 and its 200 day moving average is $111.42.

RTX (NYSE:RTX) last issued its quarterly earnings results 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. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.57 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s payout ratio is 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.