Balentine LLC Sells 2,242 Shares of RTX Co. (NYSE:RTX)

Balentine LLC lessened its holdings in RTX Co. (NYSE:RTX) by 42.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,101 shares of the company’s stock after selling 2,242 shares during the period. Balentine LLC’s holdings in RTX were worth $261,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX during the 4th quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. grew its holdings in 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. Tennessee Valley Asset Management Partners purchased a new position in shares of RTX in the fourth quarter valued at $38,000. Finally, Valley National Advisers Inc. grew its holdings in shares of 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 purchasing an additional 127 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the business’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 transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction 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 in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders sold 120,042 shares of company stock valued at $12,266,459 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RTX shares. Bank of America raised their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna raised their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Barclays raised their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities 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. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $98.33.

RTX Price Performance

Shares of RTX stock opened at $106.31 on Thursday. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $107.82. The firm has a market capitalization of $141.34 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 1.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock’s 50-day simple moving average is $100.50 and its 200-day simple moving average is $91.02.

RTX (NYSE:RTX) last issued its quarterly earnings results 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 business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.37%. RTX’s payout ratio is 98.82%.

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.