Summit Trail Advisors LLC Sells 736 Shares of RTX Co. (NYSE:RTX)

Summit Trail Advisors LLC trimmed its position in RTX Co. (NYSE:RTX) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,030 shares of the company’s stock after selling 736 shares during the quarter. Summit Trail Advisors LLC’s holdings in RTX were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Boston Partners acquired a new stake in RTX in the third quarter valued at approximately $355,350,000. Van ECK Associates Corp lifted its holdings in shares of RTX by 129.9% during the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after purchasing an additional 2,294,908 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the period. Sanders Capital LLC lifted its holdings in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after purchasing an additional 1,389,143 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock valued at $13,603,426 over the last three months. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX traded up $0.51 during mid-day trading on Monday, reaching $101.91. 3,372,626 shares of the company were exchanged, compared to its average volume of 8,110,990. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $135.49 billion, a PE ratio of 39.99, a PEG ratio of 1.83 and a beta of 0.84. The company’s 50 day moving average price is $96.70 and its 200 day moving average price is $88.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Sell-side analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is currently 92.55%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Finally, 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 report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $96.93.

RTX Company Profile

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.