Benedict Financial Advisors Inc. Lowers Holdings in RTX Co. (NYSE:RTX)

Benedict Financial Advisors Inc. trimmed its stake in RTX Co. (NYSE:RTX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,937 shares of the company’s stock after selling 642 shares during the period. RTX comprises about 2.0% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 9th largest position. Benedict Financial Advisors Inc.’s holdings in RTX were worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of RTX. Capital Research Global Investors boosted its stake in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares in the last quarter. Capital International Investors lifted its stake in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares during the period. Norges Bank acquired a new position in shares of RTX during the fourth quarter valued at $690,154,000. Massachusetts Financial Services Co. MA lifted its stake in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after acquiring an additional 6,932,011 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after acquiring an additional 1,389,143 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’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 directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.9 %

NYSE RTX traded up $1.05 during trading hours on Friday, hitting $123.34. 6,371,993 shares of the company traded hands, compared to its average volume of 7,146,997. The business’s 50-day moving average is $110.19 and its 200-day moving average is $103.20. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. 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 stock has a market capitalization of $163.98 billion, a price-to-earnings ratio of 48.38, a P/E/G ratio of 2.09 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating 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 analysts’ expectations of $19.29 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s payout ratio is 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Melius Research upped their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $153.47.

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.