Sentry Investment Management LLC Reduces Stake in RTX Co. (NYSE:RTX)

Sentry Investment Management LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,294 shares of the company’s stock after selling 862 shares during the quarter. Sentry Investment Management LLC’s holdings in RTX were worth $613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX in the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX in the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew its holdings in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Susquehanna raised their price target on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $147.00 in a research report on Monday. Finally, Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Performance

NYSE RTX opened at $125.33 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $121.64 and its 200-day simple moving average is $121.05. The company has a market cap of $166.95 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 1-year low of $88.95 and a 1-year high of $132.43.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

RTX 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.