RTX Co. (NYSE:RTX) is Monte Financial Group LLC’s 8th Largest Position

Monte Financial Group LLC decreased its holdings in shares of RTX Co. (NYSE:RTX) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,498 shares of the company’s stock after selling 14,736 shares during the quarter. RTX comprises about 2.7% of Monte Financial Group LLC’s investment portfolio, making the stock its 8th biggest position. Monte Financial Group LLC’s holdings in RTX were worth $6,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its stake in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its position in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC grew its holdings in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the period. Legal & General Group Plc increased its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $127.21 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm’s fifty day moving average price is $121.27 and its 200 day moving average price is $110.91. The company has a market capitalization of $169.22 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a 12-month low of $76.96 and a 12-month high of $128.70.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. On average, research analysts forecast that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $168.56.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

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.