Aspire Private Capital LLC Trims Holdings in RTX Co. (NYSE:RTX)

Aspire Private Capital LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 80.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,304 shares of the company’s stock after selling 5,215 shares during the quarter. Aspire Private Capital LLC’s holdings in RTX were worth $110,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in RTX during the fourth quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in RTX in the third quarter valued at $28,000. Planned Solutions Inc. purchased a new stake in RTX in the fourth quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its position in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Finally, Valley National Advisers Inc. raised its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.4 %

Shares of NYSE:RTX traded up $0.43 on Tuesday, hitting $101.99. 3,896,893 shares of the company’s stock were exchanged, compared to its average volume of 8,200,498. The firm’s 50-day moving average is $94.76 and its 200 day moving average is $86.89. The company has a market capitalization of $135.61 billion, a PE ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. 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 released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. Sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

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. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. RTX’s dividend payout ratio is currently 105.36%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. UBS Group lifted their target price on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Barclays lifted their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.40.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now 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 accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

RTX 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.