Bahl & Gaynor Inc. Has $93.76 Million Holdings in RTX Co. (NYSE:RTX)

Bahl & Gaynor Inc. lessened its stake in RTX Co. (NYSE:RTX) by 19.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,114,355 shares of the company’s stock after selling 273,997 shares during the quarter. Bahl & Gaynor Inc.’s holdings in RTX were worth $93,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Boston Partners acquired a new position in RTX during the third quarter worth about $355,350,000. Massachusetts Financial Services Co. MA raised its stake in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after acquiring an additional 1,914,184 shares in the last quarter. Van ECK Associates Corp raised its stake in RTX by 8,331.0% during the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock worth $127,120,000 after acquiring an additional 1,745,344 shares in the last quarter. Sanders Capital LLC raised its stake in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after acquiring an additional 1,682,928 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after acquiring an additional 1,389,143 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $101.41 on Friday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The business’s fifty day moving average is $95.57 and its 200 day moving average is $87.51. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market cap of $134.83 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 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, 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is currently 92.55%.

Analyst Ratings Changes

Several research analysts have commented on RTX shares. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $96.27.

Insider Activity at RTX

In related news, 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 value of $3,233,232.64. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s 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 completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. In the last three months, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by insiders.

RTX Company 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.