Investmark Advisory Group LLC Sells 225 Shares of RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Investmark Advisory Group LLC lowered its stake in shares of RTX Co. (NYSE:RTX – Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,791 shares of the company’s stock after selling 225 shares during the quarter. Investmark Advisory Group LLC’s holdings in RTX were worth $323,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. 10Elms LLP bought a new position in shares of RTX during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.6%

Shares of NYSE:RTX opened at $134.93 on Thursday. The firm has a fifty day moving average price of $129.10 and a two-hundred day moving average price of $124.52. The company has a market cap of $180.25 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a one year low of $99.07 and a one year high of $138.82.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is 79.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on RTX. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $159.82.

Get Our Latest Analysis on RTX

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX 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 directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,946 shares of company stock valued at $9,024,856. 0.15% of the stock is owned by corporate insiders.

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.

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