Herold Advisors Inc. Reduces Stake in RTX Co. (NYSE:RTX)

Herold Advisors Inc. lowered its holdings in RTX Co. (NYSE:RTX) by 52.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,757 shares of the company’s stock after selling 11,711 shares during the quarter. Herold Advisors Inc.’s holdings in RTX were worth $905,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RTX. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX in the 3rd quarter valued at about $28,000. Planned Solutions Inc. purchased a new position in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. increased its holdings in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. grew its stake in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RTX shares. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup raised their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays raised their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.27.

Insider Activity

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 in the last three months. 0.13% of the stock is currently owned by company insiders.

RTX Stock Down 0.3 %

RTX opened at $101.40 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. The business has a 50 day simple moving average of $95.57 and a 200-day simple moving average of $87.51. The stock has a market capitalization of $134.81 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89.

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

RTX Announces Dividend

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

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.