Garland Capital Management Inc. Has $4.08 Million Position in RTX Co. (NYSE:RTX)

Garland Capital Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,255 shares of the company’s stock after selling 820 shares during the quarter. RTX accounts for about 3.3% of Garland Capital Management Inc.’s portfolio, making the stock its 16th largest position. Garland Capital Management Inc.’s holdings in RTX were worth $4,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter worth approximately $40,000. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a research report on Wednesday. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Price Performance

RTX opened at $132.35 on Friday. The firm has a market cap of $176.70 billion, a P/E ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78. The firm has a 50-day moving average of $127.15 and a 200 day moving average of $122.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $94.19 and a fifty-two week high of $135.74.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. RTX’s dividend payout ratio is presently 70.99%.

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.