Bank Pictet & Cie Europe AG Has $801,000 Stock Holdings in RTX Co. (NYSE:RTX)

Bank Pictet & Cie Europe AG reduced its stake in RTX Co. (NYSE:RTX) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,610 shares of the company’s stock after selling 250 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in RTX were worth $801,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX in the 2nd quarter worth about $41,000. Finally, Stephens Consulting LLC lifted its stake in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.3 %

NYSE RTX opened at $125.54 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $166.91 billion, a P/E ratio of 49.23, a PEG ratio of 2.24 and a beta of 0.82. The business has a fifty day simple moving average of $121.27 and a 200 day simple moving average of $110.91. RTX Co. has a 12 month low of $72.52 and a 12 month high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Analyst Ratings Changes

Several equities research analysts recently commented on RTX shares. Citigroup raised their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. 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. The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.25.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

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.