E&G Advisors LP Sells 100 Shares of RTX Co. (NYSE:RTX)

E&G Advisors LP lowered its holdings in RTX Co. (NYSE:RTX) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,520 shares of the company’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in RTX were worth $669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter worth $41,000. Finally, Alaska Permanent Fund Corp acquired a new position in RTX in the first quarter valued at about $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $162.50.

RTX Stock Performance

Shares of RTX stock opened at $125.92 on Friday. The stock has a market cap of $167.41 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a twelve month low of $72.48 and a twelve month high of $127.00. The company’s fifty day moving average is $120.91 and its 200 day moving average is $110.46.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. Sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

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.