Essex Financial Services Inc. Sells 247 Shares of RTX Co. (NYSE:RTX)

Essex Financial Services Inc. decreased its position in RTX Co. (NYSE:RTX) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,670 shares of the company’s stock after selling 247 shares during the quarter. Essex Financial Services Inc.’s holdings in RTX were worth $6,535,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in RTX during the fourth quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new position in RTX in the 3rd quarter worth $28,000. Planned Solutions Inc. bought a new stake in RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% in 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 in the last quarter. Finally, Valley National Advisers Inc. lifted 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 buying an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RTX shares. UBS Group increased their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Citigroup raised their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird increased their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Bank of America boosted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.93.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 approximately $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 127,547 shares of company stock worth $12,553,645 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded up $0.25 during trading on Wednesday, hitting $101.77. 1,669,067 shares of the company’s stock traded hands, compared to its average volume of 8,028,554. The business has a fifty day simple moving average of $95.80 and a 200 day simple moving average of $87.92. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $135.30 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly 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. The company had revenue of $19.30 billion during 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 firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. As a group, research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

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

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.