Bragg Financial Advisors Inc Sells 1,710 Shares of RTX Co. (NYSE:RTX)

Bragg Financial Advisors Inc cut its holdings in shares of RTX Co. (NYSE:RTX) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,441 shares of the company’s stock after selling 1,710 shares during the period. Bragg Financial Advisors Inc’s holdings in RTX were worth $14,516,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RTX. Vanguard Group Inc. raised its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC grew its position in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC raised its stake in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after buying an additional 603,159 shares during the period. Finally, Norges Bank purchased a new position in shares of RTX in the 4th quarter worth $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $128.24 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. The firm has a fifty day moving average price of $128.56 and a 200 day moving average price of $123.59. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price objective on shares of RTX from $156.00 to $136.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Bank of America upped their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.73.

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.