Guardian Investment Management Sells 12,017 Shares of RTX Co. (NYSE:RTX)

Guardian Investment Management lessened its stake in shares of RTX Co. (NYSE:RTX) by 74.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,099 shares of the company’s stock after selling 12,017 shares during the period. Guardian Investment Management’s holdings in RTX were worth $497,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the second 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 acquired a new position in RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX in the 2nd quarter valued at $41,000. Finally, Alaska Permanent Fund Corp acquired a new position in shares of RTX in the first quarter valued at about $42,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Citigroup upped their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $162.50.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated 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 approximately $1,402,773.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

Shares of NYSE:RTX traded up $0.99 during trading on Friday, hitting $123.93. 2,556,167 shares of the company were exchanged, compared to its average volume of 5,653,164. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 1-year low of $72.29 and a 1-year high of $125.93. The company has a market capitalization of $164.86 billion, a P/E ratio of 71.64, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The business’s 50 day moving average is $119.86 and its 200-day moving average is $109.49.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.46 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.03%. RTX’s payout ratio is 145.67%.

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.