Stanley Laman Group Ltd. Has $5.96 Million Position in RTX Co. (NYSE:RTX)

Stanley Laman Group Ltd. trimmed its position in shares of RTX Co. (NYSE:RTX) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 70,824 shares of the company’s stock after selling 2,485 shares during the quarter. Stanley Laman Group Ltd.’s holdings in RTX were worth $5,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in RTX during the fourth quarter worth about $25,000. Strengthening Families & Communities LLC bought a new position in shares of RTX during the 3rd quarter valued at about $28,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. increased its stake in 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 purchasing an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings 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 period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price 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’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Stock Performance

Shares of RTX traded up $0.73 during mid-day trading on Thursday, reaching $101.76. The company’s stock had a trading volume of 6,182,480 shares, compared to its average volume of 8,224,648. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The stock has a market cap of $135.30 billion, a P/E ratio of 39.90, a PEG ratio of 1.84 and a beta of 0.88. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The business has a 50-day simple moving average of $95.36 and a two-hundred day simple moving average of $87.31.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is 92.55%.

Insider Transactions at RTX

In other news, 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 transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $91.19, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,785 shares of company stock worth $3,448,188. Company insiders own 0.13% of the company’s stock.

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.