M&R Capital Management Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

M&R Capital Management Inc. lowered its position in RTX Co. (NYSE:RTX) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,133 shares of the company’s stock after selling 244 shares during the quarter. M&R Capital Management Inc.’s holdings in RTX were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter valued at about $25,000. Planned Solutions Inc. purchased a new position in RTX in the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. boosted its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX in the fourth quarter valued at about $38,000. Finally, Fairman Group LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $38,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target 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 shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus target price of $98.33.

Insider Activity at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $13,166,366.40. 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 over the last quarter. 0.13% of the stock is owned by company insiders.

RTX Stock Performance

Shares of RTX stock traded up $0.26 on Tuesday, reaching $104.73. The stock had a trading volume of 1,917,187 shares, compared to its average volume of 7,414,566. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The business’s 50-day moving average price is $104.05 and its two-hundred day moving average price is $94.34. 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 stock has a market cap of $139.24 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $1.22 earnings per share. On average, sell-side analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.41%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

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.