Beaumont Asset Management L.L.C. Reduces Position in RTX Co. (NYSE:RTX)

Beaumont Asset Management L.L.C. lowered its position in RTX Co. (NYSE:RTX) by 19.1% in the fourth quarter, HoldingsChannel reports. The firm owned 4,653 shares of the company’s stock after selling 1,101 shares during the period. Beaumont Asset Management L.L.C.’s holdings in RTX were worth $392,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of RTX in the fourth quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX in the fourth quarter valued at about $30,000. Strengthening Families & Communities LLC purchased a new position in RTX during the third quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its stake in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

RTX Stock Down 0.2 %

RTX stock traded down $0.18 during midday trading on Tuesday, reaching $101.38. 8,564,100 shares of the company were exchanged, compared to its average volume of 8,244,371. 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 Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The stock’s 50-day simple moving average is $94.76 and its 200 day simple moving average is $86.89. The company has a market cap of $134.80 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share 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 company had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Analyst Upgrades and Downgrades

RTX has been the subject of several research analyst reports. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Barclays increased their price target on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, UBS Group increased their price target on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $93.40.

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.