RTX Co. (NYSE:RTX) Position Cut by Narwhal Capital Management

Narwhal Capital Management lowered its position in shares of RTX Co. (NYSE:RTX) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 66,960 shares of the company’s stock after selling 501 shares during the period. Narwhal Capital Management’s holdings in RTX were worth $8,113,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Brookstone Capital Management grew its holdings in RTX by 7.0% in the 1st quarter. Brookstone Capital Management now owns 44,718 shares of the company’s stock worth $4,361,000 after buying an additional 2,909 shares in the last quarter. Future Financial Wealth Managment LLC grew its stake in shares of RTX by 7.3% in the first quarter. Future Financial Wealth Managment LLC now owns 3,726 shares of the company’s stock worth $363,000 after purchasing an additional 255 shares in the last quarter. GoalVest Advisory LLC raised its stake in shares of RTX by 374.6% during the first quarter. GoalVest Advisory LLC now owns 579 shares of the company’s stock valued at $56,000 after purchasing an additional 457 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in RTX by 29.0% in the first quarter. Matrix Asset Advisors Inc. NY now owns 70,973 shares of the company’s stock worth $6,922,000 after purchasing an additional 15,941 shares during the period. Finally, Revolve Wealth Partners LLC bought a new position in RTX in the 1st quarter valued at about $244,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 0.3 %

RTX stock opened at $125.54 on Wednesday. RTX Co. has a 52 week low of $72.52 and a 52 week high of $128.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $166.91 billion, a price-to-earnings ratio of 49.23, a P/E/G ratio of 2.24 and a beta of 0.82. The company has a 50 day moving average price of $121.09 and a 200 day moving average price of $110.74.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average target price of $162.50.

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.