Lake Street Advisors Group LLC Has $1.41 Million Holdings in RTX Co. (NYSE:RTX)

Lake Street Advisors Group LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,602 shares of the company’s stock after selling 688 shares during the quarter. Lake Street Advisors Group LLC’s holdings in RTX were worth $1,406,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Briaud Financial Planning Inc lifted its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in shares of RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the 2nd quarter worth $41,000. Finally, Stephens Consulting LLC lifted its position in RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted 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. UBS Group lifted their target price on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley lifted their target price on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Susquehanna lifted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $168.56.

RTX Stock Down 0.0 %

Shares of NYSE RTX opened at $125.16 on Friday. 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 has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82. The stock has a 50 day moving average price of $121.74 and a 200 day moving average price of $111.28. RTX Co. has a 52-week low of $77.76 and a 52-week 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, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during 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 revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Sell-side analysts expect that RTX Co. will post 5.5 earnings per share 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 given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,856 shares of company stock valued at $17,131,253 in the last ninety days. Company insiders own 0.13% of the company’s stock.

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.