Northeast Investment Management Trims Stock Holdings in RTX Co. (NYSE:RTX)

Northeast Investment Management reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,096 shares of the company’s stock after selling 120 shares during the period. Northeast Investment Management’s holdings in RTX were worth $1,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc grew its position in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter valued at about $41,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of RTX during the 3rd quarter valued at about $50,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. UBS Group raised their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. 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 stock. According to data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Down 1.9 %

RTX stock opened at $118.75 on Monday. The firm has a market cap of $158.06 billion, a PE ratio of 33.93, a PEG ratio of 2.14 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. The firm’s 50 day moving average price is $122.13 and its 200-day moving average price is $112.09. RTX Co. has a one year low of $78.00 and a one year high of $128.70.

RTX (NYSE:RTX) last posted its 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. 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 the consensus estimate of $19.84 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX’s dividend payout ratio (DPR) is 72.00%.

RTX 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.