Hartford Financial Management Inc. Has $4.54 Million Stock Position in RTX Co. (NYSE:RTX)

Hartford Financial Management Inc. decreased its position in shares of RTX Co. (NYSE:RTX) by 3.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,498 shares of the company’s stock after selling 1,284 shares during the quarter. Hartford Financial Management Inc.’s holdings in RTX were worth $4,543,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in shares of RTX in the 2nd quarter valued at approximately $30,837,000. O Shaughnessy Asset Management LLC lifted its holdings in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock valued at $9,510,000 after acquiring an additional 11,354 shares during the period. Cetera Investment Advisers lifted its holdings in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. bought a new stake in RTX in the 2nd quarter valued at about $602,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $120.99 on Friday. The stock has a 50 day moving average price of $122.13 and a 200 day moving average price of $111.89. The stock has a market cap of $161.04 billion, a PE ratio of 34.57, a P/E/G ratio of 2.12 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 one year low of $78.00 and a one year high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Morgan Stanley raised their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price 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.