Garland Capital Management Inc. Lowers Stock Position in RTX Co. (NYSE:RTX)

Garland Capital Management Inc. reduced its stake in RTX Co. (NYSE:RTX) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 35,255 shares of the company’s stock after selling 820 shares during the period. RTX comprises about 3.3% of Garland Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Garland Capital Management Inc.’s holdings in RTX were worth $4,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC grew its position in RTX by 32.7% during the third quarter. Intech Investment Management LLC now owns 50,497 shares of the company’s stock valued at $6,118,000 after acquiring an additional 12,445 shares during the last quarter. Trustmark National Bank Trust Department grew its position in RTX by 10.4% during the third quarter. Trustmark National Bank Trust Department now owns 5,922 shares of the company’s stock valued at $718,000 after acquiring an additional 557 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in RTX during the third quarter valued at approximately $379,000. Pacer Advisors Inc. grew its position in RTX by 3.9% during the third quarter. Pacer Advisors Inc. now owns 98,965 shares of the company’s stock valued at $11,991,000 after acquiring an additional 3,676 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in RTX by 6.4% during the third quarter. Eagle Asset Management Inc. now owns 63,507 shares of the company’s stock valued at $7,846,000 after acquiring an additional 3,818 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on RTX shares. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $132.35 on Friday. RTX Co. has a 12 month low of $94.19 and a 12 month high of $135.74. The stock has a market cap of $176.70 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $127.15 and its 200-day moving average price is $122.54.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.