RTX Co. (NYSE:RTX) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC cut its holdings in RTX Co. (NYSE:RTX) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,482 shares of the company’s stock after selling 8,365 shares during the period. RTX comprises about 0.9% of KMG Fiduciary Partners LLC’s holdings, making the stock its 26th largest position. KMG Fiduciary Partners LLC’s holdings in RTX were worth $9,872,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RTX. Briaud Financial Planning Inc increased its stake 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 acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the 2nd quarter worth approximately $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the 1st quarter valued at approximately $42,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 4,235 shares of the company’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 transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.1 %

RTX stock opened at $125.92 on Friday. RTX Co. has a 1-year low of $72.48 and a 1-year high of $127.00. The firm has a market capitalization of $167.41 billion, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. 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’s fifty day moving average price is $120.91 and its two-hundred day moving average price is $110.38.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Robert W. Baird boosted their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Melius Research boosted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.