Landscape Capital Management L.L.C. Sells 27,481 Shares of RTX Co. (NYSE:RTX)

Landscape Capital Management L.L.C. lowered its stake in RTX Co. (NYSE:RTX) by 78.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,549 shares of the company’s stock after selling 27,481 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in RTX were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RTX. Napa Wealth Management purchased a new position in RTX during the third quarter valued at approximately $1,307,000. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter valued at $30,837,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of RTX by 16.8% during 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 buying an additional 11,354 shares in the last quarter. Kennebec Savings Bank bought a new position in RTX in the 3rd quarter worth $953,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in RTX by 36.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after buying an additional 97,749 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RTX. 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. Morgan Stanley upped their price target on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $177.27.

RTX Trading Up 0.2 %

Shares of RTX stock opened at $120.77 on Friday. The company has a market cap of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. 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 stock’s 50 day simple moving average is $122.17 and its two-hundred day simple moving average is $114.02. RTX Co. has a 1 year low of $79.13 and a 1 year high of $128.70.

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 the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.09%. 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.