Founders Capital Management Sells 359 Shares of RTX Co. (NYSE:RTX)

Founders Capital Management cut its position in shares of RTX Co. (NYSE:RTX) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,757 shares of the company’s stock after selling 359 shares during the period. RTX comprises about 3.7% of Founders Capital Management’s investment portfolio, making the stock its 10th largest position. Founders Capital Management’s holdings in RTX were worth $5,438,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RTX. Thomasville National Bank raised its stake in shares of RTX by 4.8% in the first quarter. Thomasville National Bank now owns 200,172 shares of the company’s stock valued at $19,523,000 after acquiring an additional 9,234 shares during the last quarter. Stableford Capital II LLC lifted its holdings in RTX by 3.1% in the first quarter. Stableford Capital II LLC now owns 10,361 shares of the company’s stock valued at $1,011,000 after buying an additional 316 shares during the period. Ellenbecker Investment Group bought a new position in RTX in the first quarter valued at approximately $230,000. Welch Group LLC grew its holdings in RTX by 3.6% during the 1st quarter. Welch Group LLC now owns 548,655 shares of the company’s stock worth $53,510,000 after acquiring an additional 19,240 shares during the period. Finally, Curbstone Financial Management Corp raised its position in shares of RTX by 1.6% during the 1st quarter. Curbstone Financial Management Corp now owns 27,372 shares of the company’s stock valued at $2,670,000 after acquiring an additional 418 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Bank of America upped their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. 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’s stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $98.33.

Insiders Place Their Bets

In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock valued at $12,256,952 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.3 %

Shares of RTX traded up $0.30 during midday trading on Thursday, hitting $105.07. The stock had a trading volume of 6,995,959 shares, compared to its average volume of 7,415,886. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market cap of $139.69 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. The company has a 50 day simple moving average of $104.18 and a two-hundred day simple moving average of $94.57. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the firm earned $1.22 EPS. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.39 EPS for the current 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 paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.40%. RTX’s 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.