RTX Co. (NYSE:RTX) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. lowered its position in shares of RTX Co. (NYSE:RTX) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,636 shares of the company’s stock after selling 1,516 shares during the period. Weatherly Asset Management L. P.’s holdings in RTX were worth $1,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new position in shares of RTX during the fourth quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX during the third quarter worth about $28,000. Financial Gravity Asset Management Inc. grew its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of RTX during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded down $0.22 during midday trading on Tuesday, reaching $101.34. 8,567,400 shares of the company traded hands, compared to its average volume of 8,264,439. The firm’s 50 day simple moving average is $94.76 and its two-hundred day simple moving average is $86.89. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The firm has a market cap of $134.75 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period last year, the firm earned $1.27 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX’s dividend payout ratio is currently 105.36%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RTX shares. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada raised their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Barclays lifted their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Finally, Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.40.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.