Mattern Capital Management LLC Sells 405 Shares of RTX Co. (NYSE:RTX)

Mattern Capital Management LLC cut its holdings in RTX Co. (NYSE:RTX) by 12.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,926 shares of the company’s stock after selling 405 shares during the quarter. Mattern Capital Management LLC’s holdings in RTX were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Boston Financial Mangement LLC grew its position in shares of RTX by 5.4% in the 4th quarter. Boston Financial Mangement LLC now owns 44,010 shares of the company’s stock valued at $5,093,000 after purchasing an additional 2,262 shares during the period. Advyzon Investment Management LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $320,000. Sunpointe LLC grew its position in shares of RTX by 22.1% in the 4th quarter. Sunpointe LLC now owns 3,038 shares of the company’s stock valued at $352,000 after purchasing an additional 550 shares during the period. Corps Capital Advisors LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $1,327,000. Finally, Ieq Capital LLC boosted its position in RTX by 4.6% during the 4th quarter. Ieq Capital LLC now owns 89,530 shares of the company’s stock worth $10,360,000 after acquiring an additional 3,918 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 1.5 %

RTX opened at $123.23 on Friday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The stock’s fifty day simple moving average is $121.49 and its 200 day simple moving average is $120.89. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $164.16 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

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.