RTX Co. (NYSE:RTX) Holdings Trimmed by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its stake in RTX Co. (NYSE:RTX) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,030 shares of the company’s stock after selling 736 shares during the quarter. Summit Trail Advisors LLC’s holdings in RTX were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Concord Wealth Partners raised its stake in shares of RTX by 25.8% during the 3rd quarter. Concord Wealth Partners now owns 3,829 shares of the company’s stock worth $276,000 after purchasing an additional 785 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of RTX by 10.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 24,514 shares of the company’s stock valued at $1,764,000 after acquiring an additional 2,323 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of RTX by 4.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 314,282 shares of the company’s stock valued at $22,619,000 after acquiring an additional 13,881 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of RTX during the 3rd quarter valued at about $87,000. Finally, Mackenzie Financial Corp increased its holdings in shares of RTX by 55.7% during the 3rd quarter. Mackenzie Financial Corp now owns 725,142 shares of the company’s stock valued at $51,181,000 after acquiring an additional 259,316 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock worth $13,603,426 over the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 0.5 %

NYSE:RTX traded up $0.51 on Monday, reaching $101.91. The company’s stock had a trading volume of 3,372,626 shares, compared to its average volume of 8,110,990. 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 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $135.49 billion, a PE ratio of 39.99, a PEG ratio of 1.83 and a beta of 0.84. The business’s 50-day moving average price is $96.70 and its two-hundred day moving average price is $88.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is 92.55%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RTX shares. TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Robert W. Baird raised their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays raised their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna raised their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two 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’s stock. According to MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $96.93.

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.