Peloton Wealth Strategists Lowers Stake in RTX Co. (NYSE:RTX)

Peloton Wealth Strategists cut its position in RTX Co. (NYSE:RTXFree Report) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 53,895 shares of the company’s stock after selling 2,520 shares during the quarter. RTX accounts for approximately 2.0% of Peloton Wealth Strategists’ investment portfolio, making the stock its 16th biggest holding. Peloton Wealth Strategists’ holdings in RTX were worth $4,535,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the fourth quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX during the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. raised its holdings 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 valued at $32,000 after purchasing an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of RTX during the fourth quarter valued at approximately $38,000. Finally, Valley National Advisers Inc. raised its holdings in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,937 shares of company stock worth $12,256,952. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird boosted their target price on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Citigroup boosted their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $98.33.

Check Out Our Latest Stock Analysis on RTX

RTX Price Performance

Shares of RTX stock traded down $1.09 during mid-day trading on Friday, hitting $103.94. The company had a trading volume of 2,204,952 shares, compared to its average volume of 7,468,967. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The stock’s 50 day moving average price is $103.95 and its 200-day moving average price is $93.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $138.19 billion, a P/E ratio of 41.18, a P/E/G ratio of 1.87 and a beta of 0.83.

RTX (NYSE:RTXGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

RTX Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTXFree Report).

Institutional Ownership by Quarter for RTX (NYSE:RTX)

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