RTX Co. (NYSE:RTX) Shares Sold by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 3.4% in the second quarter, HoldingsChannel reports. The fund owned 5,235 shares of the company’s stock after selling 183 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in RTX were worth $526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lynx Investment Advisory acquired a new position in shares of RTX during the 2nd quarter valued at about $26,000. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the 4th quarter worth about $25,000. Alaska Permanent Fund Corp acquired a new stake in RTX in the first quarter valued at approximately $42,000. Tennessee Valley Asset Management Partners acquired a new stake in RTX in the fourth quarter valued at approximately $38,000. Finally, Fairman Group LLC acquired a new stake in RTX in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RTX. Citigroup increased their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. UBS Group raised their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna raised their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Buying and Selling at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by insiders.

RTX Stock Performance

RTX stock traded up $0.45 during mid-day trading on Monday, reaching $116.60. The company had a trading volume of 8,486,690 shares, compared to its average volume of 7,349,135. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $155.11 billion, a P/E ratio of 45.73, a P/E/G ratio of 2.05 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $118.30. The stock’s 50-day simple moving average is $106.44 and its two-hundred day simple moving average is $100.46.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. Research analysts anticipate 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. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

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.