Meridian Investment Counsel Inc. Sells 1,470 Shares of RTX Co. (NYSE:RTX)

Meridian Investment Counsel Inc. trimmed its position in shares of RTX Co. (NYSE:RTX) by 19.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,060 shares of the company’s stock after selling 1,470 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in RTX were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTX. Manning & Napier Advisors LLC purchased a new stake in shares of RTX in the second quarter worth about $30,837,000. O Shaughnessy Asset Management LLC raised its position in shares of RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in RTX by 16.8% in 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 acquiring an additional 11,354 shares during the last quarter. Kennebec Savings Bank purchased a new position in RTX during the third quarter worth approximately $953,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in RTX by 36.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 365,221 shares of the company’s stock worth $44,250,000 after purchasing an additional 97,749 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RTX. Royal Bank of Canada upped their target price on shares of 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 increased their price objective 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. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Barclays upped their price objective 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. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $177.27.

RTX Price Performance

RTX stock opened at $118.53 on Friday. The company has a market capitalization of $157.76 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The business has a 50 day simple moving average of $122.20 and a 200 day simple moving average of $113.39. RTX Co. has a one year low of $78.00 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm 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%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s dividend payout ratio (DPR) 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.