Norden Group LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

Norden Group LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,510 shares of the company’s stock after selling 5,236 shares during the quarter. Norden Group LLC’s holdings in RTX were worth $1,305,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RTX. Cary Street Partners Investment Advisory LLC raised its position in RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after purchasing an additional 28,910 shares in the last quarter. Rockline Wealth Management LLC purchased a new stake in RTX during the fourth quarter valued at approximately $2,438,000. B&D White Capital Company LLC purchased a new position in RTX in the third quarter worth $14,186,000. PDS Planning Inc acquired a new position in shares of RTX during the fourth quarter worth $356,000. Finally, Cullen Investment Group LTD. purchased a new stake in shares of RTX during the 4th quarter valued at $843,000. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,547 shares of company stock worth $12,553,645. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock traded down $0.45 on Tuesday, hitting $101.99. The stock had a trading volume of 2,687,692 shares, compared to its average volume of 8,071,498. The company’s 50 day moving average price is $95.80 and its 200 day moving average price is $87.92. The stock has a market cap of $135.60 billion, a price-to-earnings ratio of 40.21, a P/E/G ratio of 1.83 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the business posted $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Susquehanna boosted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Bank of America upped their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Finally, TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $96.93.

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.