Archer Investment Corp Has $98,000 Holdings in RTX Co. (NYSE:RTX)

Archer Investment Corp cut its stake in RTX Co. (NYSE:RTX) by 62.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,160 shares of the company’s stock after selling 1,900 shares during the period. Archer Investment Corp’s holdings in RTX were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Bear Mountain Capital Inc. bought a new stake in RTX during the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in RTX during the 3rd quarter worth approximately $28,000. Quarry LP bought a new stake in RTX during the 1st quarter worth approximately $28,000. Planned Solutions Inc. bought a new stake in RTX during the 4th quarter worth approximately $30,000. Finally, Financial Gravity Asset Management Inc. grew its position in 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 last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RTX shares. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus target price of $94.44.

RTX Stock Performance

Shares of RTX stock opened at $100.75 on Thursday. The company has a market capitalization of $133.96 billion, a PE ratio of 44.98, a PEG ratio of 1.84 and a beta of 0.88. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $94.13 and its 200 day simple moving average is $86.13.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. On average, research analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

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.