Davis R M Inc. Cuts Stock Position in RTX Co. (NYSE:RTX)

Davis R M Inc. lessened its stake in RTX Co. (NYSE:RTX) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 379,329 shares of the company’s stock after selling 6,938 shares during the period. Davis R M Inc.’s holdings in RTX were worth $31,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Jacobsen Capital Management increased its position in shares of RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares in the last quarter. Diligent Investors LLC grew its holdings in RTX by 1.4% in the 4th 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. grew its holdings in RTX by 37.4% in 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. Kerntke Otto McGlone Wealth Management Group grew its holdings in RTX by 2.1% in the 4th 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 grew its holdings in RTX by 0.5% in the 3rd 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. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RTX. Royal Bank of Canada upped their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company upped their price target on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $98.33.

Insiders Place Their Bets

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on 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 directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,042 shares of company stock valued at $12,266,459. 0.13% of the stock is owned by company insiders.

RTX Stock Performance

NYSE:RTX traded up $0.41 during mid-day trading on Tuesday, reaching $105.43. 4,351,821 shares of the stock were exchanged, compared to its average volume of 7,878,100. The company has a 50 day simple moving average of $99.88 and a 200-day simple moving average of $90.75. The stock has a market capitalization of $140.17 billion, a P/E ratio of 41.20, a P/E/G ratio of 1.88 and a beta of 0.84. 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 1 year low of $68.56 and a 1 year high of $107.82.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders 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 yield of 2.39%. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.