Eagle Bay Advisors LLC Sells 832 Shares of RTX Co. (NYSE:RTX)

Eagle Bay Advisors LLC lowered its holdings in RTX Co. (NYSE:RTX) by 29.0% during the third quarter, HoldingsChannel.com reports. The fund owned 2,037 shares of the company’s stock after selling 832 shares during the period. Eagle Bay Advisors LLC’s holdings in RTX were worth $247,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. TFG Advisers LLC grew its stake in RTX by 3.7% during the third quarter. TFG Advisers LLC now owns 4,392 shares of the company’s stock worth $532,000 after buying an additional 157 shares during the last quarter. Greenleaf Trust grew its stake in RTX by 1.0% during the third quarter. Greenleaf Trust now owns 82,486 shares of the company’s stock worth $9,994,000 after buying an additional 791 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of RTX during the third quarter worth approximately $240,000. Marietta Wealth Management LLC lifted its position in shares of RTX by 2.6% during the third quarter. Marietta Wealth Management LLC now owns 67,239 shares of the company’s stock worth $8,147,000 after purchasing an additional 1,679 shares in the last quarter. Finally, Liberty Capital Management Inc. lifted its position in shares of RTX by 0.3% during the third quarter. Liberty Capital Management Inc. now owns 34,120 shares of the company’s stock worth $4,134,000 after purchasing an additional 90 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.7 %

Shares of RTX stock traded up $0.87 during trading hours on Wednesday, hitting $126.40. 1,101,454 shares of the company were exchanged, compared to its average volume of 6,753,608. The company has a market capitalization of $168.05 billion, a PE ratio of 49.46, a PEG ratio of 2.24 and a beta of 0.82. RTX Co. has a 52 week low of $76.96 and a 52 week high of $128.70. The business has a 50 day moving average of $121.27 and a two-hundred day moving average of $110.91. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Finally, Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.88.

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

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.