Brown Lisle Cummings Inc. Reduces Holdings in RTX Co. (NYSE:RTX)

Brown Lisle Cummings Inc. lowered its position in RTX Co. (NYSE:RTX) by 3.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,488 shares of the company’s stock after selling 457 shares during the period. Brown Lisle Cummings Inc.’s holdings in RTX were worth $1,634,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of RTX during the second quarter valued at approximately $30,837,000. Capital Advisors Ltd. LLC increased its position in shares of RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in 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. Cetera Investment Advisers raised its position in shares of RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new stake in shares of RTX during the second quarter worth $602,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.50.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.1 %

RTX stock opened at $125.92 on Monday. The stock’s fifty day moving average is $120.91 and its two-hundred day moving average is $110.46. The stock has a market cap of $167.50 billion, a PE ratio of 72.79, a P/E/G ratio of 2.24 and a beta of 0.82. RTX Co. has a 1-year low of $72.48 and a 1-year high of $127.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the business earned $1.29 EPS. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio (DPR) is presently 145.67%.

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.