Meyer Handelman Co. Sells 3,020 Shares of RTX Corporation $RTX

Meyer Handelman Co. decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 175,541 shares of the company’s stock after selling 3,020 shares during the period. Meyer Handelman Co.’s holdings in RTX were worth $29,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Halbert Hargrove Global Advisors LLC lifted its holdings in RTX by 194.5% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 215 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of RTX by 7.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,275 shares of the company’s stock valued at $381,000 after acquiring an additional 161 shares during the period. Brian Low Financial Group LLC raised its position in shares of RTX by 23.4% in the 3rd quarter. Brian Low Financial Group LLC now owns 7,827 shares of the company’s stock worth $1,310,000 after acquiring an additional 1,482 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its stake in shares of RTX by 0.7% during the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 61,120 shares of the company’s stock worth $10,227,000 after purchasing an additional 400 shares during the last quarter. Finally, HBW Advisory Services LLC boosted its position in RTX by 5.0% during the third quarter. HBW Advisory Services LLC now owns 4,468 shares of the company’s stock valued at $748,000 after purchasing an additional 211 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RTX

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $180.15, for a total value of $873,547.35. Following the completion of the transaction, the executive vice president owned 59,556 shares of the company’s stock, valued at $10,729,013.40. The trade was a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their target price on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Citigroup assumed coverage on shares of RTX in a research report on Thursday, December 11th. They issued a “buy” rating and a $211.00 price objective on the stock. Sanford C. Bernstein increased their target price on shares of RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RTX in a research note on Monday. Finally, Morgan Stanley set a $215.00 price target on RTX and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.18.

RTX Trading Down 0.7%

RTX stock opened at $185.15 on Friday. The stock has a 50-day moving average price of $176.15 and a 200 day moving average price of $162.00. The company has a market capitalization of $248.25 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.44. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $188.00. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion during the quarter, compared to analyst estimates of $21.26 billion. During the same period last year, the firm posted $1.45 EPS. RTX’s revenue for the quarter was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 21st. RTX’s dividend payout ratio (DPR) is currently 55.85%.

RTX Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.