Procyon Advisors LLC Has $4.12 Million Holdings in RTX Co. (NYSE:RTX)

Procyon Advisors LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,970 shares of the company’s stock after buying an additional 463 shares during the quarter. Procyon Advisors LLC’s holdings in RTX were worth $4,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Elgethun Capital Management grew its holdings in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Alpha Omega Wealth Management LLC grew its holdings in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the last quarter. Lazari Capital Management Inc. raised its stake in shares of RTX by 1.6% during the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $603,000 after acquiring an additional 95 shares during the last quarter. Fermata Advisors LLC grew its stake in shares of RTX by 4.3% in the third quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after purchasing an additional 96 shares during the last quarter. Finally, Motco increased its holdings in RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’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 sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by company insiders.

RTX Stock Up 0.0 %

Shares of NYSE RTX opened at $123.95 on Monday. The stock has a market capitalization of $164.79 billion, a P/E ratio of 48.60, a PEG ratio of 2.18 and a beta of 0.82. 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 Co. has a one year low of $72.48 and a one year high of $125.93. The firm’s 50 day simple moving average is $119.86 and its two-hundred day simple moving average is $109.58.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. As a group, analysts expect that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 98.82%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.50.

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.