Stonebridge Financial Planning Group LLC Cuts Holdings in RTX Co. (NYSE:RTX)

Stonebridge Financial Planning Group LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,758 shares of the company’s stock after selling 230 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in RTX were worth $737,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RTX. Cary Street Partners Investment Advisory LLC lifted its holdings in RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $2,438,000. B&D White Capital Company LLC bought a new stake in shares of RTX during the third quarter valued at approximately $14,186,000. PDS Planning Inc bought a new stake in shares of RTX during the fourth quarter valued at approximately $356,000. Finally, Cullen Investment Group LTD. bought a new stake in shares of RTX during the fourth quarter valued at approximately $843,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RTX. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Susquehanna raised their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, TD Cowen raised their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.93.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is currently owned by insiders.

RTX Stock Down 0.9 %

NYSE:RTX traded down $0.92 during trading hours on Tuesday, hitting $101.52. 5,412,724 shares of the stock traded hands, compared to its average volume of 8,106,593. The firm has a 50 day moving average price of $95.80 and a 200 day moving average price of $87.92. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market cap of $134.97 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. Equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.