Sheaff Brock Investment Advisors LLC Lowers Stake in RTX Co. (NYSE:RTX)

Sheaff Brock Investment Advisors LLC lessened its stake in RTX Co. (NYSE:RTX) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,768 shares of the company’s stock after selling 318 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in RTX were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its holdings in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $118.53 on Friday. The firm has a market capitalization of $157.76 billion, a P/E ratio of 33.86, a PEG ratio of 2.19 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $122.20 and a 200 day moving average price of $113.39. RTX Co. has a 52 week low of $78.00 and a 52 week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. Sell-side analysts expect that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

Analyst Ratings Changes

RTX has been the topic of a number of recent research reports. UBS Group upped their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley boosted their price objective 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. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Nine equities 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 company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $177.27.

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.