Nemes Rush Group LLC Reduces Stake in RTX Co. (NYSE:RTX)

Nemes Rush Group LLC decreased its holdings in RTX Co. (NYSE:RTX) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,299 shares of the company’s stock after selling 539 shares during the quarter. Nemes Rush Group LLC’s holdings in RTX were worth $3,969,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RTX. Quantbot Technologies LP acquired a new position in RTX in the 3rd quarter valued at about $405,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in RTX in the third quarter valued at about $2,169,000. Tradition Wealth Management LLC raised its position in shares of RTX by 1.8% during the 3rd quarter. Tradition Wealth Management LLC now owns 5,071 shares of the company’s stock valued at $614,000 after acquiring an additional 91 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of RTX in the 3rd quarter valued at about $102,000. Finally, Benjamin Edwards Inc. raised its stake in RTX by 729.7% during the third quarter. Benjamin Edwards Inc. now owns 80,803 shares of the company’s stock worth $9,793,000 after acquiring an additional 71,064 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, UBS Group raised RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.15% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of RTX opened at $132.56 on Tuesday. The company has a 50-day moving average of $128.82 and a two-hundred day moving average of $123.15. The stock has a market cap of $176.97 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a one year low of $97.03 and a one year high of $136.17.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.90%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.