Elite Wealth Management Inc. Has $324,000 Position in RTX Co. (NYSE:RTX)

Elite Wealth Management Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 20.7% in the third quarter, Holdings Channel.com reports. The firm owned 2,677 shares of the company’s stock after selling 700 shares during the quarter. Elite Wealth Management Inc.’s holdings in RTX were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its holdings in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares in the last quarter. Legal & General Group Plc lifted its stake in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of RTX by 5.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after acquiring an additional 408,551 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares during the last quarter. Finally, FMR LLC boosted its holdings in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after purchasing an additional 490,109 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RTX shares. Citigroup raised 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. Susquehanna upped their price objective on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

RTX Price Performance

Shares of RTX stock opened at $120.34 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $79.57 and a twelve month high of $128.70. The company has a 50-day simple moving average of $122.19 and a two-hundred day simple moving average of $114.36. The stock has a market capitalization of $160.17 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping 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 company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business earned $1.25 earnings per share. RTX’s revenue was up 6.0% on a year-over-year basis. Analysts forecast 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. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.09%. RTX’s dividend payout ratio is 72.00%.

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.