Summit X LLC Has $3.12 Million Stock Holdings in RTX Co. (NYSE:RTX)

Summit X LLC trimmed its position in RTX Co. (NYSE:RTX) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,937 shares of the company’s stock after selling 389 shares during the quarter. Summit X LLC’s holdings in RTX were worth $3,117,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the 3rd quarter valued at $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the 4th quarter worth $40,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after buying an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 0.3 %

RTX stock opened at $128.16 on Wednesday. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $124.54 and its 200-day moving average is $121.97. The firm has a market capitalization of $170.73 billion, a PE ratio of 36.10, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

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.