Pacer Advisors Inc. Trims Stock Holdings in RTX Co. (NYSE:RTX)

Pacer Advisors Inc. cut its holdings in shares of RTX Co. (NYSE:RTX) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,078 shares of the company’s stock after selling 139 shares during the quarter. Pacer Advisors Inc.’s holdings in RTX were worth $8,000,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new stake in RTX in the third quarter valued at $28,000. Quarry LP acquired a new stake in shares of RTX in the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. grew its stake in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new stake in RTX during the third quarter valued at approximately $35,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $97.45 on Thursday. The stock has a market cap of $129.57 billion, a P/E ratio of 43.50, a P/E/G ratio of 1.75 and a beta of 0.87. The firm’s 50-day simple moving average is $91.16 and its 200 day simple moving average is $83.42. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. RTX’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 EPS. Equities analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $120.00 in a research note on Thursday, March 14th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.12.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

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.