Howe & Rusling Inc. Cuts Stake in RTX Co. (NYSE:RTX)

Howe & Rusling Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 76.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,752 shares of the company’s stock after selling 94,399 shares during the period. Howe & Rusling Inc.’s holdings in RTX were worth $2,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners bought a new position in shares of RTX during the third quarter valued at about $355,350,000. Van ECK Associates Corp increased its position in RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares in the last quarter. Sanders Capital LLC lifted its position in shares of RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC boosted its position in RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after acquiring an additional 1,389,143 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,547 shares of company stock worth $12,553,645. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RTX. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.93.

RTX Stock Performance

RTX stock traded down $0.30 on Wednesday, hitting $101.22. The company had a trading volume of 6,981,956 shares, compared to its average volume of 8,041,163. The stock’s 50-day simple moving average is $95.80 and its 200 day simple moving average is $87.92. The stock has a market cap of $134.57 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 earnings per share. As a group, equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 92.55%.

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.