Paladin Advisory Group LLC Trims Position in RTX Co. (NYSE:RTX)

Paladin Advisory Group LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 35.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,798 shares of the company’s stock after selling 986 shares during the period. Paladin Advisory Group LLC’s holdings in RTX were worth $151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in RTX during the fourth quarter worth approximately $1,580,608,000. Moneta Group Investment Advisors LLC raised its stake in RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after purchasing an additional 13,598,794 shares during the period. Boston Partners purchased a new position in RTX during the third quarter worth approximately $355,350,000. Morgan Stanley raised its stake in RTX by 11.3% during the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the period. Finally, Capital World Investors raised its stake in RTX by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after purchasing an additional 2,256,475 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.8 %

RTX traded up $0.86 during trading hours on Friday, reaching $101.57. 10,328,091 shares of the stock traded hands, compared to its average volume of 8,269,268. The firm’s fifty day simple moving average is $94.33 and its two-hundred day simple moving average is $86.23. The company has a market cap of $135.05 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 1.83 and a beta of 0.88. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. As a group, analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. 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 ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RTX. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group increased their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $94.44.

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.