Northcape Wealth Management LLC Sells 302 Shares of RTX Co. (NYSE:RTX)

Northcape Wealth Management LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 30,805 shares of the company’s stock after selling 302 shares during the period. RTX makes up approximately 1.1% of Northcape Wealth Management LLC’s holdings, making the stock its 29th biggest position. Northcape Wealth Management LLC’s holdings in RTX were worth $3,093,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter worth approximately $26,000. Fairman Group LLC bought a new stake in shares of RTX in the fourth quarter worth $38,000. Beaird Harris Wealth Management LLC increased its position in RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. USA Financial Formulas lifted its holdings in RTX by 510.3% in the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of RTX by 758.9% during the 4th quarter. True Wealth Design LLC now owns 481 shares of the company’s stock valued at $40,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the 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 transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RTX. Robert W. Baird raised their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Barclays raised their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $153.47.

RTX Price Performance

RTX traded up $0.50 during trading on Friday, hitting $118.52. 3,427,510 shares of the company traded hands, compared to its average volume of 5,713,840. The company has a market cap of $157.66 billion, a PE ratio of 46.48, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $118.99. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $108.59 and its two-hundred day simple moving average is $102.24.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company 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 company earned $1.29 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. 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.