Garland Capital Management Inc. Cuts Stock Position in RTX Co. (NYSE:RTX)

Garland Capital Management Inc. trimmed its stake in shares of RTX Co. (NYSE:RTXFree Report) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,590 shares of the company’s stock after selling 155 shares during the period. RTX accounts for 2.5% of Garland Capital Management Inc.’s holdings, making the stock its 26th biggest position. Garland Capital Management Inc.’s holdings in RTX were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new position in shares of RTX in the first quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter valued at $30,000. VitalStone Financial LLC boosted its stake in RTX by 136.5% during the 2nd quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares during the last quarter. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the third quarter worth $28,000. Finally, Financial Gravity Asset Management Inc. raised its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RTX shares. Barclays upped their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. UBS Group increased their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird raised their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price target on shares of RTX in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.76.

Read Our Latest Stock Report on RTX

RTX Trading Down 0.7 %

RTX stock traded down $0.67 during trading on Friday, hitting $100.11. The company had a trading volume of 7,325,276 shares, compared to its average volume of 8,335,078. RTX Co. has a 1-year low of $68.56 and a 1-year high of $104.91. The company’s 50 day simple moving average is $93.47 and its 200-day simple moving average is $85.25. The stock has a market cap of $133.11 billion, a price-to-earnings ratio of 45.15, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.36%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insider Buying and Selling at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 in the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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