Rockbridge Investment Management LCC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Rockbridge Investment Management LCC lessened its stake in RTX Co. (NYSE:RTX) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,873 shares of the company’s stock after selling 129 shares during the quarter. Rockbridge Investment Management LCC’s holdings in RTX were worth $911,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RTX. 1620 Investment Advisors Inc. grew its position in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC grew its holdings in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc increased its position in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. lifted its position in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC boosted its stake in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Down 0.9 %

Shares of RTX stock opened at $134.46 on Thursday. The business has a fifty day simple moving average of $128.12 and a 200 day simple moving average of $122.87. The stock has a market cap of $179.52 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $96.33 and a 12 month high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last three months. Corporate insiders own 0.15% of the company’s stock.

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.