Norden Group LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Norden Group LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,510 shares of the company’s stock after selling 5,236 shares during the period. Norden Group LLC’s holdings in RTX were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the 4th quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new position in RTX in the third quarter valued at $28,000. Planned Solutions Inc. acquired a new position in shares of RTX in the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.4 %

Shares of NYSE RTX traded down $0.45 during mid-day trading on Tuesday, reaching $101.99. The company had a trading volume of 2,687,692 shares, compared to its average volume of 8,071,498. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The stock has a market cap of $135.60 billion, a P/E ratio of 40.21, a PEG ratio of 1.83 and a beta of 0.88. The firm has a 50 day simple moving average of $95.80 and a two-hundred day simple moving average of $87.92.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. Sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Analysts Set New Price Targets

RTX has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Citigroup raised their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.93.

Insider Activity at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by corporate insiders.

About RTX

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.