Stonegate Investment Group LLC Sells 33,931 Shares of RTX Co. (NYSE:RTX)

Stonegate Investment Group LLC cut its stake in RTX Co. (NYSE:RTX) by 28.8% in the first quarter, HoldingsChannel.com reports. The fund owned 83,909 shares of the company’s stock after selling 33,931 shares during the period. Stonegate Investment Group LLC’s holdings in RTX were worth $8,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RTX. Capital Research Global Investors grew its stake in shares of RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares during the period. Capital International Investors grew its stake in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares during the period. Norges Bank bought a new stake in shares of RTX in the fourth quarter worth approximately $690,154,000. Massachusetts Financial Services Co. MA grew its position in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the period. Finally, Boston Partners bought a new stake in RTX during the third quarter valued at approximately $355,350,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $96.93.

RTX Price Performance

Shares of RTX stock traded down $0.91 during mid-day trading on Tuesday, hitting $101.53. The company had a trading volume of 5,421,537 shares, compared to its average volume of 8,106,685. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The stock’s 50 day moving average price is $95.80 and its 200-day moving average price is $87.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $134.98 billion, a P/E ratio of 39.81, a P/E/G ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 92.55%.

Insider Activity at RTX

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