Altfest L J & Co. Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

Altfest L J & Co. Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 13.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,183 shares of the company’s stock after selling 928 shares during the period. Altfest L J & Co. Inc.’s holdings in RTX were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC increased its holdings in RTX by 16.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 188,479 shares of the company’s stock worth $15,859,000 after acquiring an additional 26,436 shares during the period. Planned Solutions Inc. purchased a new position in RTX during the fourth quarter worth about $30,000. DDD Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $11,213,000. Courier Capital LLC grew its holdings in shares of RTX by 17.9% during the fourth quarter. Courier Capital LLC now owns 55,622 shares of the company’s stock worth $4,680,000 after purchasing an additional 8,444 shares in the last quarter. Finally, IFG Advisory LLC raised its stake in RTX by 4.5% in the fourth quarter. IFG Advisory LLC now owns 33,037 shares of the company’s stock valued at $2,780,000 after purchasing an additional 1,411 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 0.5 %

Shares of RTX traded up $0.45 on Thursday, hitting $97.90. 2,305,201 shares of the stock traded hands, compared to its average volume of 7,982,263. The company has a market capitalization of $130.17 billion, a PE ratio of 43.50, a P/E/G ratio of 1.75 and a beta of 0.87. The business has a 50 day simple moving average of $91.16 and a 200 day simple moving average of $83.42. RTX Co. has a one year low of $68.56 and a one year high of $104.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping 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 analyst estimates of $19.74 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.41%. RTX’s payout ratio is 105.36%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. UBS Group upped their price objective on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Robert W. Baird restated a “neutral” rating and set a $94.00 price target (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and upped their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.12.

Insider Transactions at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred 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 transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of RTX 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 transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 in the last quarter. 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.