Bryn Mawr Capital Management LLC Sells 15,644 Shares of RTX Co. (NYSE:RTX)

Bryn Mawr Capital Management LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 142,562 shares of the company’s stock after selling 15,644 shares during the period. Bryn Mawr Capital Management LLC’s holdings in RTX were worth $11,995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bear Mountain Capital Inc. acquired a new position in shares of RTX in the 4th quarter valued at approximately $25,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter valued at approximately $30,000. Strengthening Families & Communities LLC acquired a new position in RTX during the 3rd quarter worth approximately $28,000. Financial Gravity Asset Management Inc. increased 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 purchasing an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in RTX during the 4th quarter worth approximately $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX Stock Down 0.3 %

Shares of NYSE RTX opened at $101.40 on Friday. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a P/E/G 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 $103.89. The company’s fifty day simple moving average is $95.57 and its 200 day simple moving average is $87.51. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 92.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RTX shares. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TD Cowen upped their price target 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. Robert W. Baird upped their price target 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. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $96.27.

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.