Saxon Interests Inc. Lowers Position in RTX Co. (NYSE:RTX)

Saxon Interests Inc. cut its stake in RTX Co. (NYSE:RTX) by 87.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,943 shares of the company’s stock after selling 21,022 shares during the quarter. Saxon Interests Inc.’s holdings in RTX were worth $248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after purchasing an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $2,438,000. B&D White Capital Company LLC bought a new stake in shares of RTX in the 3rd quarter worth approximately $14,186,000. Peddock Capital Advisors LLC boosted its position in shares of RTX by 3.5% in the 3rd quarter. Peddock Capital Advisors LLC now owns 5,117 shares of the company’s stock worth $368,000 after purchasing an additional 175 shares in the last quarter. Finally, Hurlow Wealth Management Group Inc. bought a new stake in shares of RTX in the 4th quarter worth approximately $206,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen boosted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Robert W. Baird reissued a “neutral” rating and issued a $94.00 price target (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. UBS Group boosted their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $95.12.

RTX Stock Performance

RTX traded up $0.11 during mid-day trading on Thursday, reaching $97.56. 10,700,468 shares of the company traded hands, compared to its average volume of 8,121,944. The stock has a market capitalization of $129.72 billion, a P/E ratio of 43.50, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average price is $91.16 and its 200-day moving average price is $83.42. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 in the last 90 days. Company insiders own 0.13% of the company’s stock.

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.