D.B. Root & Company LLC Sells 4,602 Shares of RTX Co. (NYSE:RTX)

D.B. Root & Company LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 32.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,716 shares of the company’s stock after selling 4,602 shares during the quarter. D.B. Root & Company LLC’s holdings in RTX were worth $975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Signature Wealth Management Partners LLC boosted its position in shares of RTX by 2.0% in the second quarter. Signature Wealth Management Partners LLC now owns 11,731 shares of the company’s stock valued at $1,178,000 after acquiring an additional 230 shares during the period. Ballast Inc. boosted its holdings in RTX by 5.8% in the 2nd quarter. Ballast Inc. now owns 13,012 shares of the company’s stock valued at $1,306,000 after purchasing an additional 718 shares during the period. Delta Financial Group Inc. increased its holdings in shares of RTX by 5.8% during the second quarter. Delta Financial Group Inc. now owns 2,199 shares of the company’s stock worth $221,000 after purchasing an additional 120 shares during the period. Northwest Investment Counselors LLC raised its position in shares of RTX by 18.2% in the second quarter. Northwest Investment Counselors LLC now owns 2,044 shares of the company’s stock valued at $205,000 after buying an additional 314 shares in the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of RTX by 4,270.1% in the second quarter. Granite Bay Wealth Management LLC now owns 127,652 shares of the company’s stock valued at $13,141,000 after buying an additional 124,731 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Sunday. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $153.47.

RTX Stock Up 0.4 %

Shares of RTX stock traded up $0.45 on Monday, hitting $116.60. The stock had a trading volume of 8,486,690 shares, compared to its average volume of 7,349,135. RTX Co. has a 12-month low of $68.56 and a 12-month high of $118.30. The stock has a market cap of $155.11 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The business has a 50 day moving average of $106.62 and a 200 day moving average of $100.64. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.44 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.