RTX Co. (NYSE:RTX) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its stake in RTX Co. (NYSE:RTX) by 14.3% during the third quarter, Holdings Channel.com reports. The fund owned 3,331 shares of the company’s stock after selling 557 shares during the period. Mattern Capital Management LLC’s holdings in RTX were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RTX. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in RTX during the 2nd quarter worth 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 acquired a new position in RTX in the 2nd quarter valued at about $41,000. Finally, Stephens Consulting LLC increased its stake in RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RTX shares. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $168.56.

RTX Trading Down 0.0 %

NYSE:RTX opened at $125.16 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a 52-week low of $77.76 and a 52-week high of $128.70. The stock’s 50 day moving average price is $121.74 and its 200 day moving average price is $111.35. The company has a market capitalization of $166.40 billion, a PE ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. On average, research analysts anticipate that RTX Co. will post 5.5 EPS for the current year.

RTX Dividend Announcement

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

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock worth $17,131,253 in the last quarter. Company insiders own 0.13% of the company’s stock.

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.