Bridges Investment Management Inc. Sells 777 Shares of RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Bridges Investment Management Inc. reduced its stake in RTX Co. (NYSE:RTX – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,127 shares of the company’s stock after selling 777 shares during the quarter. Bridges Investment Management Inc.’s holdings in RTX were worth $3,529,000 at the end of the most recent reporting period.

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

RTX Stock Performance

Shares of RTX stock opened at $123.55 on Friday. 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 $78.00 and a twelve month high of $128.70. The stock has a market cap of $164.45 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.15 and a beta of 0.82. The company’s fifty day moving average is $122.08 and its 200 day moving average is $112.69.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.56 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RTX shares. Morgan Stanley lifted their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Robert W. Baird raised their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada raised 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. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $177.27.

Read Our Latest Stock Report on RTX

About RTX

(Free Report)

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.

Further Reading

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