New England Asset Management Inc. Lowers Position in RTX Co. (NYSE:RTX)

New England Asset Management Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,150 shares of the company’s stock after selling 19,920 shares during the period. New England Asset Management Inc.’s holdings in RTX were worth $3,489,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. 1620 Investment Advisors Inc. lifted its stake in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC raised its holdings in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc lifted its position in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its stake in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after acquiring an additional 81 shares during the period. Finally, Pointe Capital Management LLC grew its position in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the completion of the sale, the executive vice president now directly owns 29,742 shares in the company, valued at approximately $3,771,880.44. This trade represents a 39.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,946 shares of company stock worth $9,024,856. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $161.06.

RTX Trading Up 1.5%

Shares of NYSE RTX opened at $130.65 on Tuesday. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50 day moving average is $128.28 and its two-hundred day moving average is $123.94. The stock has a market capitalization of $174.54 billion, a P/E ratio of 36.80, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. RTX’s payout ratio is currently 79.77%.

RTX 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.