Cullinan Associates Inc. Has $3.37 Million Stake in RTX Co. (NYSE:RTX)

Cullinan Associates Inc. lowered its holdings in shares of RTX Co. (NYSE:RTX) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,833 shares of the company’s stock after selling 375 shares during the period. Cullinan Associates Inc.’s holdings in RTX were worth $3,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RTX. Briaud Financial Planning Inc boosted its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the 2nd quarter valued at approximately $41,000. Finally, Stephens Consulting LLC raised its holdings in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group boosted 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. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $168.56.

Insider Transactions at RTX

In related 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 completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock worth $17,131,253 in the last three months. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.1 %

RTX stock traded up $0.15 during midday trading on Friday, reaching $125.32. The stock had a trading volume of 199,872 shares, compared to its average volume of 6,730,281. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The firm has a market cap of $166.61 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.21 and a beta of 0.82. The business has a fifty day simple moving average of $121.59 and a two-hundred day simple moving average of $111.12.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the company earned $1.25 EPS. RTX’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 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.