Newbridge Financial Services Group Inc. Sells 1,384 Shares of RTX Co. (NYSE:RTX)

Newbridge Financial Services Group Inc. lowered its holdings in shares of RTX Co. (NYSE:RTX) by 26.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,763 shares of the company’s stock after selling 1,384 shares during the period. Newbridge Financial Services Group Inc.’s holdings in RTX were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bear Mountain Capital Inc. bought a new position in shares of RTX during the 4th quarter worth about $25,000. Planned Solutions Inc. bought a new stake in RTX during the 4th quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of RTX in the fourth quarter valued at $38,000. Finally, Fairman Group LLC acquired a new position in shares of RTX during the fourth quarter valued at about $38,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on RTX shares. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Bank of America lifted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.33.

RTX Trading Up 0.3 %

NYSE:RTX opened at $104.77 on Wednesday. The company has a market cap of $139.29 billion, a P/E ratio of 41.09, a P/E/G ratio of 1.83 and a beta of 0.83. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock’s fifty day moving average price is $104.05 and its two-hundred day moving average price is $94.34.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.41%. RTX’s payout ratio is currently 98.82%.

Insider Buying and Selling

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

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.