Saxon Interests Inc. Decreases Holdings in RTX Co. (NYSE:RTX)

Saxon Interests Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 3.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,831 shares of the company’s stock after selling 112 shares during the quarter. Saxon Interests Inc.’s holdings in RTX were worth $276,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of RTX in the fourth quarter worth about $38,000. Finally, Fairman Group LLC purchased a new position in shares of RTX in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $0.86 during trading hours on Tuesday, hitting $100.41. 8,083,730 shares of the company’s stock were exchanged, compared to its average volume of 7,574,484. The company has a market capitalization of $133.50 billion, a PE ratio of 39.38, a PEG ratio of 1.76 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The business’s 50 day simple moving average is $104.36 and its 200-day simple moving average is $95.92. 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 (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. On average, equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. Barclays raised 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. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen raised their price objective 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. Finally, Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.33.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on 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 transaction, the chief executive officer now directly 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 this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 over the last three months. 0.13% of the stock is owned by company insiders.

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.