Register Financial Advisors LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Register Financial Advisors LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 19.0% in the 1st quarter, Holdings Channel reports. The firm owned 16,632 shares of the company’s stock after selling 3,914 shares during the period. RTX accounts for approximately 0.8% of Register Financial Advisors LLC’s holdings, making the stock its 29th biggest position. Register Financial Advisors LLC’s holdings in RTX were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new stake in RTX during the 4th quarter valued at $25,000. Planned Solutions Inc. bought a new stake in shares of RTX in the fourth quarter worth $30,000. Alaska Permanent Fund Corp bought a new stake in shares of RTX in the first quarter worth $42,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in RTX in the fourth quarter valued at about $38,000. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of recent research reports. Citigroup boosted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Bank of America increased their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays boosted their price objective 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. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Activity

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

RTX traded down $0.23 on Friday, hitting $100.39. 13,844,477 shares of the company’s stock traded hands, compared to its average volume of 7,594,032. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.78 and a beta of 0.83. 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 one year low of $68.56 and a one year high of $108.65. The company’s 50 day simple moving average is $104.44 and its 200-day simple moving average is $95.34.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

RTX 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.