SevenBridge Financial Group LLC Has $3.68 Million Stock Position in RTX Co. (NYSE:RTX)

SevenBridge Financial Group LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,773 shares of the company’s stock after selling 640 shares during the quarter. SevenBridge Financial Group LLC’s holdings in RTX were worth $3,677,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at about $39,000. Millstone Evans Group LLC acquired a new stake in shares of RTX during the 4th quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the 4th quarter worth about $40,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RTX shares. Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upped their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $132.85 on Wednesday. The company’s 50 day moving average price is $128.96 and its two-hundred day moving average price is $123.24. The firm has a market capitalization of $177.36 billion, a P/E ratio of 37.42, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.90%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.15% of the stock is currently owned by insiders.

RTX 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.