Spectrum Asset Management Inc. NB CA Cuts Stock Position in RTX Co. (NYSE:RTX)

Spectrum Asset Management Inc. NB CA lessened its holdings in shares of RTX Co. (NYSE:RTX) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,508 shares of the company’s stock after selling 386 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in RTX were worth $1,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc lifted its position in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX in the second quarter valued at $41,000. Finally, Stephens Consulting LLC raised its stake in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RTX. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Royal Bank of Canada upped their target price on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Melius Research raised their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $168.56.

RTX Trading Up 1.3 %

Shares of RTX stock opened at $127.21 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $76.96 and a 52-week high of $128.70. The company has a market capitalization of $169.22 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The business’s fifty day moving average is $121.46 and its 200 day moving average is $111.02.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. RTX’s dividend payout ratio is currently 72.00%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last ninety days. 0.13% of the stock is owned by insiders.

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.