RTX Co. (NYSE:RTX) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its holdings in RTX Co. (NYSE:RTX) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,833 shares of the company’s stock after selling 375 shares during the quarter. Cullinan Associates Inc.’s holdings in RTX were worth $3,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX during the second quarter valued at about $41,000. Finally, Stephens Consulting LLC boosted its holdings in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.1 %

NYSE:RTX traded up $0.15 during trading hours on Friday, reaching $125.32. The company’s stock had a trading volume of 199,872 shares, compared to its average volume of 6,730,281. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $166.61 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70. The business’s 50-day moving average is $121.59 and its 200-day moving average is $111.12.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Equities research analysts predict that RTX Co. will post 5.5 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RTX. Melius Research upped their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. Susquehanna upped their price target on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $168.56.

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.