Fruth Investment Management Sells 100 Shares of RTX Co. (NYSE:RTX)

Fruth Investment Management lowered its holdings in RTX Co. (NYSE:RTX) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,320 shares of the company’s stock after selling 100 shares during the quarter. Fruth Investment Management’s holdings in RTX were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the 2nd quarter worth about $32,000. Fairman Group LLC purchased a new position in RTX during the 4th quarter valued at about $38,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the second quarter valued at about $41,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RTX shares. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Stock Performance

RTX stock opened at $124.64 on Tuesday. 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 firm has a 50-day moving average of $120.05 and a 200-day moving average of $109.77. The firm has a market cap of $165.71 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.18 and a beta of 0.82. RTX Co. has a 1-year low of $72.48 and a 1-year high of $125.93.

RTX (NYSE:RTX) last posted its 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. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Sell-side analysts expect that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.02%. RTX’s dividend payout ratio is currently 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.