Reliant Investment Management LLC Decreases Stake in RTX Co. (NYSE:RTX)

Reliant Investment Management LLC lowered its position in RTX Co. (NYSE:RTX) by 1.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,337 shares of the company’s stock after selling 410 shares during the quarter. Reliant Investment Management LLC’s holdings in RTX were worth $3,349,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avity Investment Management Inc. grew its holdings in RTX by 15.2% during the 1st quarter. Avity Investment Management Inc. now owns 387,243 shares of the company’s stock valued at $37,768,000 after buying an additional 50,987 shares in the last quarter. Norris Perne & French LLP MI grew its holdings in RTX by 21.9% during the 1st quarter. Norris Perne & French LLP MI now owns 4,393 shares of the company’s stock valued at $428,000 after buying an additional 788 shares in the last quarter. S.E.E.D. Planning Group LLC grew its holdings in RTX by 3.5% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 25,936 shares of the company’s stock valued at $2,530,000 after buying an additional 870 shares in the last quarter. KRS Capital Management LLC purchased a new position in RTX during the 1st quarter valued at about $462,000. Finally, Norway Savings Bank purchased a new position in RTX during the 1st quarter valued at about $263,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.2 %

RTX stock traded down $0.23 during trading hours on Friday, reaching $100.39. The company had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. 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 company has a 50-day moving average price of $104.42 and a 200 day moving average price of $95.47. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.77 and a beta of 0.83. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 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 business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the firm earned $1.22 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the company’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 directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the company’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 completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,937 shares of company stock valued at $12,256,952. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays lifted their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday. UBS Group lifted their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.33.

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.