Puzo Michael J Sells 4,334 Shares of RTX Co. (NYSE:RTX)

by · The Markets Daily

Puzo Michael J lessened its stake in shares of RTX Co. (NYSE:RTX – Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,898 shares of the company’s stock after selling 4,334 shares during the quarter. RTX comprises approximately 2.8% of Puzo Michael J’s holdings, making the stock its 15th largest position. Puzo Michael J’s holdings in RTX were worth $10,172,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus target price of $166.40.

View Our Latest Stock Analysis on RTX

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s 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 $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The shares were 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. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last ninety days. 0.15% of the stock is owned by insiders.

RTX Trading Down 2.3 %

Shares of RTX stock opened at $130.14 on Friday. RTX Co. has a 12-month low of $97.90 and a 12-month high of $136.17. The stock has a market capitalization of $173.75 billion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a 50-day simple moving average of $129.21 and a 200 day simple moving average of $123.36. 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 (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.94%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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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