Capital Investment Advisors LLC Sells 611 Shares of RTX Co. (NYSE:RTX)

Capital Investment Advisors LLC reduced its holdings in RTX Co. (NYSE:RTX) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,673 shares of the company’s stock after selling 611 shares during the period. Capital Investment Advisors LLC’s holdings in RTX were worth $16,196,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RTX. Briaud Financial Planning Inc raised its stake in 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 purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX in the 2nd quarter valued at approximately $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the 1st quarter worth approximately $42,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction 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 transaction, the chairman now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last 90 days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RTX. Wells Fargo & Company lowered their price objective 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. Royal Bank of Canada increased their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Melius Research lifted their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $162.50.

RTX Stock Performance

RTX stock opened at $125.92 on Friday. RTX Co. has a 12-month low of $72.48 and a 12-month high of $127.00. The stock has a 50-day simple moving average of $120.91 and a 200 day simple moving average of $110.38. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $167.41 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82.

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

RTX Dividend Announcement

The company 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.