Congress Park Capital LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Congress Park Capital LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 21.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,125 shares of the company’s stock after selling 1,125 shares during the quarter. Congress Park Capital LLC’s holdings in RTX were worth $402,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors increased its holdings in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors lifted its position in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares in the last quarter. Norges Bank purchased a new position in shares of RTX during the 4th quarter valued at approximately $690,154,000. Massachusetts Financial Services Co. MA lifted its position in shares of RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after buying an additional 2,294,908 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of a number of research reports. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Bank of America raised their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Stock Performance

NYSE RTX traded up $0.07 on Friday, reaching $100.69. The stock had a trading volume of 3,435,801 shares, compared to its average volume of 7,510,025. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The business’s 50-day moving average price is $104.44 and its 200 day moving average price is $95.34. The stock has a market cap of $133.87 billion, a P/E ratio of 39.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.83.

RTX (NYSE:RTX) last issued 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. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. As a group, equities analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,937 shares of company stock valued at $12,256,952. Insiders own 0.13% of the company’s stock.

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.