Metis Global Partners LLC Decreases Stake in RTX Co. (NYSE:RTX)

Metis Global Partners LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,544 shares of the company’s stock after selling 7,880 shares during the quarter. Metis Global Partners LLC’s holdings in RTX were worth $5,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. W.H. Cornerstone Investments Inc. purchased a new stake in RTX during the 4th quarter valued at $215,000. Kerntke Otto McGlone Wealth Management Group grew its stake in shares of RTX by 2.1% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,108 shares of the company’s stock worth $514,000 after purchasing an additional 128 shares during the last quarter. National Bank of Canada FI raised its position in RTX by 17.6% during the 4th quarter. National Bank of Canada FI now owns 519,666 shares of the company’s stock valued at $44,269,000 after purchasing an additional 77,647 shares during the last quarter. Pointe Capital Management LLC lifted its holdings in RTX by 13.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,944 shares of the company’s stock worth $1,510,000 after buying an additional 2,141 shares during the period. Finally, FourThought Financial Partners LLC grew its position in shares of RTX by 29.5% in the 4th quarter. FourThought Financial Partners LLC now owns 7,932 shares of the company’s stock worth $667,000 after buying an additional 1,807 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 137,842 shares of company stock worth $13,603,426 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Performance

RTX stock traded down $0.49 during mid-day trading on Friday, reaching $101.40. 13,324,869 shares of the company were exchanged, compared to its average volume of 7,489,805. The firm’s 50-day simple moving average is $96.70 and its two-hundred day simple moving average is $88.60. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. Equities analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.49%. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is currently 92.55%.

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.