ICICI Prudential Asset Management Co Ltd Sells 44,088 Shares of RTX Co. (NYSE:RTX)

ICICI Prudential Asset Management Co Ltd lowered its holdings in RTX Co. (NYSE:RTX) by 51.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 41,371 shares of the company’s stock after selling 44,088 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in RTX were worth $5,013,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RTX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of RTX during the 1st quarter worth approximately $730,000. D Orazio & Associates Inc. bought a new position in shares of RTX during the 1st quarter worth approximately $244,000. TBH Global Asset Management LLC raised its stake in shares of RTX by 12.7% during the 1st quarter. TBH Global Asset Management LLC now owns 15,912 shares of the company’s stock worth $1,552,000 after acquiring an additional 1,793 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of RTX by 1.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 26,354 shares of the company’s stock worth $2,570,000 after acquiring an additional 416 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in shares of RTX by 4.8% during the 1st quarter. HBK Sorce Advisory LLC now owns 49,395 shares of the company’s stock worth $4,817,000 after acquiring an additional 2,281 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.2 %

Shares of RTX stock traded up $0.26 during trading on Wednesday, reaching $123.63. The company’s stock had a trading volume of 422,226 shares, compared to its average volume of 6,659,966. 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 company has a market capitalization of $164.55 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.18 and a beta of 0.82. The stock’s 50-day moving average price is $122.16 and its 200 day moving average price is $113.17. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RTX shares. Melius Research upped their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Barclays upped their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Morgan Stanley raised their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.