D.B. Root & Company LLC Sells 520 Shares of RTX Co. (NYSE:RTX)

D.B. Root & Company LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,318 shares of the company’s stock after selling 520 shares during the period. D.B. Root & Company LLC’s holdings in RTX were worth $1,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. Bear Mountain Capital Inc. bought a new position in RTX during the fourth quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the fourth quarter valued at approximately $38,000. Finally, Fairman Group LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $38,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays increased their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Citigroup raised their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $98.33.

RTX Stock Down 0.2 %

Shares of NYSE:RTX traded down $0.23 on Friday, hitting $100.39. 13,853,219 shares of the company traded hands, compared to its average volume of 6,408,701. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65. The stock has a 50 day simple moving average of $104.42 and a 200-day simple moving average of $95.57. The company has a market cap of $133.47 billion, a PE ratio of 39.37, a PEG ratio of 1.76 and a beta of 0.83. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the company earned $1.22 EPS. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. 0.13% of the stock is currently owned by insiders.

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.