Montag A & Associates Inc. Sells 1,479 Shares of RTX Co. (NYSE:RTX)

Montag A & Associates Inc. lowered its holdings in shares of RTX Co. (NYSE:RTX) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,526 shares of the company’s stock after selling 1,479 shares during the quarter. Montag A & Associates Inc.’s holdings in RTX were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Jacobsen Capital Management boosted its position in shares of RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC boosted its position in RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after buying an additional 118 shares in the last quarter. Valley National Advisers Inc. boosted its position in RTX by 37.4% in the third 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. Kerntke Otto McGlone Wealth Management Group boosted its position in RTX by 2.1% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,108 shares of the company’s stock valued at $514,000 after buying an additional 128 shares in the last quarter. Finally, Dempze Nancy E boosted its position in RTX by 0.5% in the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after buying an additional 130 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on RTX. Citigroup boosted their price target on shares of RTX from $95.00 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 stock an “outperform” rating in a research note on Tuesday, March 19th. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their target price 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. Finally, Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.93.

Insider Activity

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold 135,618 shares of company stock worth $13,397,978 over the last quarter. 0.13% of the stock is currently owned by company insiders.

RTX Trading Up 1.7 %

NYSE RTX traded up $1.79 during trading on Thursday, reaching $105.73. 7,210,085 shares of the stock traded hands, compared to its average volume of 8,055,303. The firm has a market cap of $140.57 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The stock’s 50-day moving average price is $97.80 and its 200 day moving average price is $89.33. 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 Co. has a fifty-two week low of $68.56 and a fifty-two week high of $105.76.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. Analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is 92.55%.

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.