Csenge Advisory Group Cuts Holdings in RTX Co. (NYSE:RTX)

Csenge Advisory Group cut its position in shares of RTX Co. (NYSE:RTX) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,567 shares of the company’s stock after selling 304 shares during the quarter. Csenge Advisory Group’s holdings in RTX were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Motco raised its holdings in RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after buying an additional 99 shares during the last quarter. Enterprise Bank & Trust Co raised its holdings in RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after buying an additional 100 shares during the last quarter. Gold Investment Management Ltd. raised its holdings in RTX by 3.5% in the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock worth $297,000 after buying an additional 103 shares during the last quarter. Insight Inv LLC raised its holdings in RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock worth $1,687,000 after buying an additional 105 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in RTX by 3.8% in the second quarter. Quent Capital LLC now owns 2,862 shares of the company’s stock worth $287,000 after buying an additional 105 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction 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 legal filing with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,213 shares of company stock valued at $22,963,593. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on RTX shares. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna boosted their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $153.47.

RTX Price Performance

Shares of RTX traded up $0.95 during mid-day trading on Thursday, reaching $115.10. The stock had a trading volume of 7,917,651 shares, compared to its average volume of 7,352,836. The firm has a market cap of $153.11 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.02 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $118.30. The business has a fifty day moving average of $106.27 and a 200 day moving average of $100.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that RTX Co. will post 5.44 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.