NBC Securities Inc. Cuts Position in RTX Co. (NYSE:RTX)

NBC Securities Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 10.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,854 shares of the company’s stock after selling 1,416 shares during the quarter. NBC Securities Inc.’s holdings in RTX were worth $1,156,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of RTX. Bear Mountain Capital Inc. purchased a new stake in RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX during the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. increased its holdings in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. increased its holdings in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in RTX during the 4th quarter worth approximately $38,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on RTX. Bank of America lifted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. UBS Group lifted their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

NYSE:RTX traded up $0.30 during midday trading on Wednesday, reaching $104.77. 3,991,507 shares of the company traded hands, compared to its average volume of 4,894,300. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65. The company has a fifty day moving average price of $104.12 and a 200 day moving average price of $94.50. The firm has a market capitalization of $139.29 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.41%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by company insiders.

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.