RTX Co. (NYSE:RTX) Shares Sold by Icon Wealth Advisors LLC

by · The Cerbat Gem

Icon Wealth Advisors LLC lowered its position in shares of RTX Co. (NYSE:RTX – Free Report) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,288 shares of the company’s stock after selling 3,258 shares during the quarter. Icon Wealth Advisors LLC’s holdings in RTX were worth $883,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gabelli Funds LLC increased its stake in RTX by 68.5% in the first quarter. Gabelli Funds LLC now owns 53,640 shares of the company’s stock valued at $5,232,000 after purchasing an additional 21,800 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of RTX by 7.0% during the 1st quarter. Kestra Advisory Services LLC now owns 249,474 shares of the company’s stock worth $24,331,000 after acquiring an additional 16,304 shares during the period. Ceeto Capital Group LLC grew its holdings in RTX by 1.5% in the first quarter. Ceeto Capital Group LLC now owns 20,887 shares of the company’s stock valued at $2,038,000 after purchasing an additional 300 shares during the period. Beaird Harris Wealth Management LLC raised its stake in RTX by 51.7% during the first quarter. Beaird Harris Wealth Management LLC now owns 710 shares of the company’s stock worth $69,000 after purchasing an additional 242 shares during the period. Finally, QVR LLC purchased a new stake in shares of RTX during the 1st quarter valued at $601,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.2 %

Shares of NYSE:RTX opened at $120.77 on Friday. RTX Co. has a 12-month low of $79.13 and a 12-month high of $128.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market cap of $160.75 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The company has a fifty day simple moving average of $122.17 and a 200 day simple moving average of $114.02.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid 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 yield of 2.09%. RTX’s payout ratio is 72.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RTX. Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Susquehanna lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $177.27.

Read Our Latest Research Report on RTX

RTX Profile

(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.

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