Chatham Capital Group Inc. Lowers Stake in RTX Co. (NYSE:RTX)

Chatham Capital Group Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 28.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,114 shares of the company’s stock after selling 1,234 shares during the quarter. Chatham Capital Group Inc.’s holdings in RTX were worth $304,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RTX. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter valued at $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter valued at about $30,000. 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 valued at $32,000 after buying an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of RTX during the fourth quarter valued at about $38,000. Finally, Fairman Group LLC acquired a new position in shares of RTX during the fourth quarter valued at about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. UBS Group upped 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. Susquehanna increased their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.33.

RTX Trading Down 0.2 %

Shares of NYSE:RTX opened at $100.39 on Monday. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The firm has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. 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 business’s 50 day moving average price is $104.42 and its 200-day moving average price is $95.65.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. On average, equities research analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. RTX’s payout ratio is currently 98.82%.

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.