Mattern Capital Management LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

Mattern Capital Management LLC cut its holdings in RTX Co. (NYSE:RTX) by 14.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,331 shares of the company’s stock after selling 557 shares during the quarter. Mattern Capital Management LLC’s holdings in RTX were worth $404,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the second quarter worth approximately $41,000. Finally, Stephens Consulting LLC raised its holdings in shares of RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.0 %

Shares of RTX stock opened at $125.16 on Friday. The firm’s 50-day moving average price is $121.74 and its 200 day moving average price is $111.35. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The firm has a market capitalization of $166.40 billion, a PE ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. On average, sell-side analysts predict that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s payout ratio is 98.82%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Robert W. Baird increased their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley increased their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $168.56.

Insiders Place Their Bets

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In other news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock valued at $17,131,253 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.