AMI Investment Management Inc. Trims Stock Position in RTX Co. (NYSE:RTX)

AMI Investment Management Inc. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,565 shares of the company’s stock after selling 856 shares during the period. RTX makes up 1.3% of AMI Investment Management Inc.’s holdings, making the stock its 25th biggest position. AMI Investment Management Inc.’s holdings in RTX were worth $3,771,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after buying an additional 1,389,143 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in RTX in the fourth quarter valued at $239,000. Carret Asset Management LLC increased its holdings in RTX by 2.0% in the fourth quarter. Carret Asset Management LLC now owns 19,743 shares of the company’s stock valued at $1,661,000 after buying an additional 386 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in RTX by 8.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 113,264 shares of the company’s stock valued at $9,530,000 after buying an additional 8,816 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in RTX by 4.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,437 shares of the company’s stock valued at $2,813,000 after buying an additional 1,402 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RTX. JPMorgan Chase & Co. boosted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $153.47.

RTX Trading Up 0.4 %

NYSE:RTX traded up $0.50 on Friday, hitting $118.52. The stock had a trading volume of 3,427,510 shares, compared to its average volume of 7,215,377. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market cap of $157.57 billion, a price-to-earnings ratio of 46.48, a PEG ratio of 2.08 and a beta of 0.82. The company has a fifty day moving average price of $108.59 and a two-hundred day moving average price of $102.24. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for 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 was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Equities research analysts expect that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

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.