Ellenbecker Investment Group Trims Position in RTX Co. (NYSE:RTX)

Ellenbecker Investment Group lessened its stake in RTX Co. (NYSE:RTX) by 34.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,190 shares of the company’s stock after selling 1,132 shares during the quarter. Ellenbecker Investment Group’s holdings in RTX were worth $265,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc increased its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX during the 2nd quarter valued at about $41,000. Finally, Alaska Permanent Fund Corp purchased a new position in RTX during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RTX shares. Robert W. Baird raised their target price 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. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lifted 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $162.50.

Insider Buying and Selling 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 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 $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 0.13% of the stock is owned by insiders.

RTX Trading Down 0.4 %

Shares of RTX opened at $125.21 on Friday. RTX Co. has a 52-week low of $72.48 and a 52-week high of $127.00. 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 firm’s fifty day moving average is $120.71 and its two-hundred day moving average is $110.18. The stock has a market cap of $166.47 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

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.