South Street Advisors LLC Decreases Stake in RTX Co. (NYSE:RTX)

South Street Advisors LLC lowered its stake in RTX Co. (NYSE:RTX) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,427 shares of the company’s stock after selling 860 shares during the period. South Street Advisors LLC’s holdings in RTX were worth $8,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. TrinityPoint Wealth LLC raised its holdings in shares of RTX by 0.5% in the third quarter. TrinityPoint Wealth LLC now owns 38,752 shares of the company’s stock worth $4,695,000 after buying an additional 186 shares during the last quarter. Aljian Capital Management LLC increased its stake in shares of RTX by 31.8% in the third quarter. Aljian Capital Management LLC now owns 21,631 shares of the company’s stock worth $2,621,000 after acquiring an additional 5,219 shares during the period. Quest Partners LLC increased its stake in shares of RTX by 8,216.2% in the third quarter. Quest Partners LLC now owns 19,460 shares of the company’s stock worth $2,358,000 after acquiring an additional 19,226 shares during the period. Taurus Asset Management LLC increased its stake in shares of RTX by 9.4% in the third quarter. Taurus Asset Management LLC now owns 4,344 shares of the company’s stock worth $526,000 after acquiring an additional 375 shares during the period. Finally, Capital City Trust Co. FL increased its stake in shares of RTX by 3.5% in the third quarter. Capital City Trust Co. FL now owns 9,327 shares of the company’s stock worth $1,130,000 after acquiring an additional 315 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 1.4 %

Shares of NYSE RTX opened at $131.86 on Tuesday. The company’s 50-day simple moving average is $125.69 and its 200-day simple moving average is $122.23. RTX Co. has a 52-week low of $92.35 and a 52-week high of $135.36. The firm has a market cap of $176.04 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RTX. Wells Fargo & Company increased their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Susquehanna increased their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

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.