Bruce G. Allen Investments LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Bruce G. Allen Investments LLC lessened its holdings in RTX Co. (NYSE:RTX) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,363 shares of the company’s stock after selling 142 shares during the period. Bruce G. Allen Investments LLC’s holdings in RTX were worth $165,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RTX. Elgethun Capital Management increased its holdings 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 buying an additional 85 shares during the period. Alpha Omega Wealth Management LLC grew its stake in shares of RTX by 0.6% during 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 during the period. Lazari Capital Management Inc. grew its stake in shares of RTX by 1.6% during 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 during the period. Motco grew its stake in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after purchasing an additional 99 shares during the period. Finally, D Orazio & Associates Inc. grew its stake in shares of RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after purchasing an additional 99 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $161.13.

RTX Stock Up 0.3 %

Shares of RTX opened at $123.92 on Thursday. RTX Co. has a 52-week low of $72.29 and a 52-week high of $125.93. The company has a market capitalization of $164.75 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The stock has a fifty day simple moving average of $119.58 and a two-hundred day simple moving average of $109.11. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by 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.