Charter Oak Capital Management LLC Trims Position in RTX Co. (NYSE:RTX)

Charter Oak Capital Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,982 shares of the company’s stock after selling 461 shares during the period. Charter Oak Capital Management LLC’s holdings in RTX were worth $1,057,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its holdings in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC raised its holdings in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc raised its holdings in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. raised its holdings in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its holdings in RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after buying an additional 81 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Citigroup decreased their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company increased their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Buy” and a consensus price target of $159.82.

RTX Stock Up 0.1%

RTX stock opened at $139.21 on Friday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $140.65. The company has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The firm’s 50-day moving average is $129.63 and its two-hundred day moving average is $125.80. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% 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.