Connable Office Inc. Sells 8,684 Shares of RTX Co. (NYSE:RTX)

Connable Office Inc. lowered its position in shares of RTX Co. (NYSE:RTX) by 25.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,654 shares of the company’s stock after selling 8,684 shares during the quarter. Connable Office Inc.’s holdings in RTX were worth $3,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Briaud Financial Planning Inc grew its position in shares of 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 in the last quarter. Lynx Investment Advisory bought a new position in RTX during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the 2nd quarter valued at $32,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX during the 3rd quarter valued at $41,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter worth $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Susquehanna boosted their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Ten investment 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 stock. According to MarketBeat, RTX has an average rating of “Hold” and a consensus target price of $177.27.

RTX Stock Down 3.9 %

RTX opened at $118.92 on Friday. The company has a 50 day moving average of $122.20 and a 200 day moving average of $113.28. The company has a market cap of $158.28 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $78.00 and a 12 month 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 return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

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 given 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 2.12%. RTX’s payout ratio is currently 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.