Meridian Investment Counsel Inc. Sells 1,470 Shares of RTX Co. (NYSE:RTX)

Meridian Investment Counsel Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,060 shares of the company’s stock after selling 1,470 shares during the period. Meridian Investment Counsel Inc.’s holdings in RTX were worth $734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC raised its position in RTX by 1.5% during the third quarter. Empirical Finance LLC now owns 48,766 shares of the company’s stock valued at $5,908,000 after purchasing an additional 721 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of RTX by 4.5% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 7,388 shares of the company’s stock valued at $895,000 after buying an additional 321 shares in the last quarter. Black Diamond Financial LLC lifted its position in RTX by 15.8% in the 3rd quarter. Black Diamond Financial LLC now owns 3,263 shares of the company’s stock worth $395,000 after buying an additional 444 shares during the last quarter. CIBC Asset Management Inc boosted its stake in RTX by 6.8% in the third quarter. CIBC Asset Management Inc now owns 246,986 shares of the company’s stock worth $29,925,000 after buying an additional 15,756 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its stake in shares of RTX by 9.1% during the third quarter. Omnia Family Wealth LLC now owns 2,416 shares of the company’s stock worth $293,000 after acquiring an additional 201 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Nine 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 stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus price target of $177.27.

RTX Stock Up 0.2 %

RTX stock opened at $118.53 on Friday. The firm has a market cap of $157.76 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 2.19 and a beta of 0.82. 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 Co. has a 12 month low of $78.00 and a 12 month high of $128.70. The stock has a fifty day simple moving average of $122.20 and a two-hundred day simple moving average of $113.39.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 earnings per share. Equities analysts predict 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. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.