Beacon Investment Advisory Services Inc. Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Beacon Investment Advisory Services Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 90,665 shares of the company’s stock after selling 1,260 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in RTX were worth $10,985,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Marshall Wace LLP increased its stake in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after buying an additional 1,901,256 shares during the period. International Assets Investment Management LLC boosted its holdings in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the last quarter. Fisher Asset Management LLC grew its stake in RTX by 4.8% during the 3rd 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. Hsbc Holdings PLC raised its position in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after buying an additional 509,261 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $121.83 on Monday. RTX Co. has a 12-month low of $79.67 and a 12-month high of $128.70. The company has a market cap of $162.16 billion, a PE ratio of 34.81, a P/E/G ratio of 2.16 and a beta of 0.82. The stock has a 50 day simple moving average of $122.34 and a 200-day simple moving average of $114.61. 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 (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (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 during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. RTX’s dividend payout ratio is currently 72.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Susquehanna boosted their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.27.

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.