Marco Investment Management LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Marco Investment Management LLC trimmed its position in RTX Co. (NYSE:RTX) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,883 shares of the company’s stock after selling 810 shares during the period. Marco Investment Management LLC’s holdings in RTX were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in RTX in the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new position in RTX in the fourth quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new position in RTX in the third quarter worth about $28,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of RTX during the 4th quarter valued at about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Christopher T. Calio sold 367 shares of the business’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 approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the business’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 completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

NYSE:RTX opened at $101.69 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The stock’s 50 day simple moving average is $95.57 and its two-hundred day simple moving average is $87.71. The company has a market cap of $135.20 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 1.83 and a beta of 0.88.

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

RTX Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Hold” and a consensus target price of $96.27.

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.