RTX Co. (NYSE:RTX) Shares Sold by Montis Financial LLC

Montis Financial LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,984 shares of the company’s stock after selling 422 shares during the period. Montis Financial LLC’s holdings in RTX were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Northern Trust Corp raised its holdings in RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC boosted its stake in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. increased its position in RTX by 9.8% in the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after acquiring an additional 593,305 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold a total of 127,547 shares of company stock valued at $12,553,645 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Up 0.7 %

Shares of NYSE:RTX traded up $0.67 during trading on Thursday, reaching $101.89. 5,539,596 shares of the company traded hands, compared to its average volume of 8,098,568. The firm has a market cap of $135.46 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The firm has a fifty day simple moving average of $96.23 and a 200 day simple moving average of $88.21. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business 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%. RTX’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is presently 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.