Angeles Wealth Management LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Angeles Wealth Management LLC reduced its holdings in RTX Co. (NYSE:RTX – Free Report) by 4.3% during the 3rd quarter, Holdings Channel reports. The fund owned 8,191 shares of the company’s stock after selling 372 shares during the period. Angeles Wealth Management LLC’s holdings in RTX were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Whitener Capital Management Inc. boosted its holdings in shares of RTX by 2.0% in the 3rd quarter. Whitener Capital Management Inc. now owns 15,521 shares of the company’s stock valued at $1,881,000 after acquiring an additional 299 shares during the last quarter. Northern Financial Advisors Inc boosted its holdings in RTX by 9.5% during the third quarter. Northern Financial Advisors Inc now owns 10,535 shares of the company’s stock worth $1,276,000 after buying an additional 911 shares in the last quarter. Optas LLC boosted its holdings in RTX by 23.9% during the third quarter. Optas LLC now owns 3,292 shares of the company’s stock worth $399,000 after buying an additional 636 shares in the last quarter. First Interstate Bank boosted its holdings in RTX by 18.9% during the third quarter. First Interstate Bank now owns 3,876 shares of the company’s stock worth $470,000 after buying an additional 615 shares in the last quarter. Finally, AM Investment Strategies LLC purchased a new stake in RTX during the third quarter worth $223,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RTX. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. UBS Group increased their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $177.27.

View Our Latest Stock Analysis on RTX

RTX Price Performance

Shares of NYSE RTX traded down $2.24 during mid-day trading on Friday, reaching $118.75. The company’s stock had a trading volume of 5,235,060 shares, compared to its average volume of 4,109,141. The stock has a 50-day moving average of $122.13 and a two-hundred day moving average of $112.02. The stock has a market capitalization of $158.06 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The company 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 72.00%.

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.

See Also

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