Advisory Services Network LLC Sells 10,633 Shares of RTX Co. (NYSE:RTX)

Advisory Services Network LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,507 shares of the company’s stock after selling 10,633 shares during the period. Advisory Services Network LLC’s holdings in RTX were worth $7,531,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. grew its holdings in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of RTX during the 4th quarter worth approximately $38,000. Finally, Valley National Advisers Inc. grew its holdings in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.8 %

Shares of NYSE:RTX traded up $0.86 during trading on Friday, reaching $106.27. The company’s stock had a trading volume of 3,431,308 shares, compared to its average volume of 6,166,759. 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 12 month low of $68.56 and a 12 month high of $107.82. The firm’s 50 day simple moving average is $101.04 and its two-hundred day simple moving average is $91.35. The stock has a market capitalization of $141.29 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.

RTX (NYSE:RTX) last announced its quarterly earnings results 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 firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts predict that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.37%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,042 shares of company stock valued at $12,266,459. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays upped their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $98.33.

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.