RTX Co. (NYSE:RTX) Position Cut by Kelly Financial Services LLC

Kelly Financial Services LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,183 shares of the company’s stock after selling 91 shares during the quarter. Kelly Financial Services LLC’s holdings in RTX were worth $628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Elgethun Capital Management increased its stake in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after purchasing an additional 85 shares in the last quarter. Alpha Omega Wealth Management LLC increased its stake in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Lazari Capital Management Inc. increased its stake in RTX by 1.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after purchasing an additional 95 shares in the last quarter. Motco grew its stake in RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after acquiring an additional 99 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RTX has been the topic of several research analyst reports. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $161.13.

RTX Stock Performance

RTX opened at $123.78 on Thursday. The stock has a market cap of $164.57 billion, a PE ratio of 48.60, a P/E/G ratio of 2.20 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 1 year low of $72.29 and a 1 year high of $125.93. The stock’s 50 day simple moving average is $119.58 and its 200-day simple moving average is $109.11.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. Sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is 98.82%.

Insiders Place Their Bets

In related news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.