PAX Financial Group LLC Sells 317 Shares of RTX Co. (NYSE:RTX)

by · The Cerbat Gem

PAX Financial Group LLC trimmed its holdings in RTX Co. (NYSE:RTX – Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,432 shares of the company’s stock after selling 317 shares during the period. PAX Financial Group LLC’s holdings in RTX were worth $744,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RTX. Fairway Wealth LLC bought a new position in shares of RTX in the 4th 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 last quarter. Modus Advisors LLC acquired a new position in RTX during the fourth quarter valued at approximately $39,000. Millstone Evans Group LLC acquired a new stake in shares of RTX in the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the 4th quarter worth $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 2.3 %

Shares of RTX stock opened at $130.14 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a fifty day moving average of $129.21 and a 200-day moving average of $123.36. RTX Co. has a 52-week low of $97.90 and a 52-week high of $136.17. The stock has a market cap of $173.75 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RTX shares. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $166.40.

Check Out Our Latest Stock Analysis on RTX

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on 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 approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last three months. Company insiders own 0.15% of the company’s stock.

About RTX

(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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