Sigma Investment Counselors Inc. Trims Holdings in RTX Co. (NYSE:RTX)

Sigma Investment Counselors Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,802 shares of the company’s stock after selling 155 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in RTX were worth $1,066,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc boosted its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the second quarter worth approximately $41,000. Finally, Stephens Consulting LLC increased its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.0 %

Shares of NYSE:RTX opened at $125.16 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $166.40 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The business’s 50-day moving average is $121.74 and its 200 day moving average is $111.28. RTX Co. has a 1 year low of $77.76 and a 1 year high of $128.70.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts predict that RTX Co. will post 5.5 earnings per share for the current fiscal year.

RTX Announces Dividend

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 paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is 98.82%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen raised RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and an average target price of $168.56.

Insider Buying and Selling at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is currently owned by insiders.

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.