Marshall & Sullivan Inc. WA Lowers Holdings in RTX Co. (NYSE:RTX)

Marshall & Sullivan Inc. WA reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,893 shares of the company’s stock after selling 191 shares during the period. RTX accounts for 2.3% of Marshall & Sullivan Inc. WA’s portfolio, making the stock its 24th largest position. Marshall & Sullivan Inc. WA’s holdings in RTX were worth $4,712,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elgethun Capital Management raised its stake in RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares during the period. Alpha Omega Wealth Management LLC increased its holdings in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares during the last quarter. Lazari Capital Management Inc. raised its position in shares of RTX by 1.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after buying an additional 95 shares during the period. Fermata Advisors LLC boosted its holdings in RTX by 4.3% in the third quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock valued at $280,000 after acquiring an additional 96 shares during the last quarter. Finally, Motco grew its position in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.8 %

Shares of RTX stock opened at $123.93 on Friday. RTX Co. has a 1-year low of $72.29 and a 1-year high of $125.93. The company has a market capitalization of $164.86 billion, a PE ratio of 71.64, a P/E/G ratio of 2.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50-day moving average of $119.86 and a 200-day moving average of $109.40.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the firm earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. RTX’s dividend payout ratio (DPR) is presently 145.67%.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction 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. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company decreased their price objective 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. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $162.50.

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.