Howe & Rusling Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

Howe & Rusling Inc. reduced its position in RTX Co. (NYSE:RTX) by 76.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,752 shares of the company’s stock after selling 94,399 shares during the quarter. Howe & Rusling Inc.’s holdings in RTX were worth $2,419,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

RTX has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. 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. Finally, Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.93.

Insider Activity

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s 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 completion of 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 filing with the SEC, which is available through the SEC website. In other RTX 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by company insiders.

RTX Stock Down 0.3 %

RTX traded down $0.30 during trading on Wednesday, reaching $101.22. 6,981,956 shares of the stock traded hands, compared to its average volume of 8,041,163. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock’s 50-day simple moving average is $95.80 and its two-hundred day simple moving average is $87.92. The stock has a market cap of $134.57 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last announced 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 firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. As a group, equities research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

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 dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio (DPR) is presently 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.