Islay Capital Management LLC Sells 487 Shares of RTX Co. (NYSE:RTX)

Islay Capital Management LLC reduced its stake in RTX Co. (NYSE:RTX) by 22.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,703 shares of the company’s stock after selling 487 shares during the period. Islay Capital Management LLC’s holdings in RTX were worth $143,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new stake in RTX in the 4th quarter valued at $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the third quarter valued at about $28,000. Planned Solutions Inc. bought a new position in RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.93.

RTX Trading Down 0.5 %

RTX traded down $0.52 during trading on Tuesday, reaching $101.92. 2,414,013 shares of the company’s stock were exchanged, compared to its average volume of 8,068,968. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market capitalization of $135.50 billion, a PE ratio of 40.21, a P/E/G ratio of 1.83 and a beta of 0.88. The company’s fifty day moving average price is $95.80 and its 200-day moving average price is $87.92. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. As a group, equities analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling at RTX

In other RTX 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s 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 owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders have sold 127,547 shares of company stock worth $12,553,645 over 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.