Intact Investment Management Inc. Reduces Holdings in RTX Co. (NYSE:RTX)

Intact Investment Management Inc. trimmed its position in shares of RTX Co. (NYSE:RTX) by 2.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 113,350 shares of the company’s stock after selling 2,450 shares during the quarter. Intact Investment Management Inc.’s holdings in RTX were worth $9,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RTX. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter valued at $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter valued at $30,000. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the third quarter valued at $28,000. Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the fourth quarter valued at $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus 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 company’s stock in a transaction dated 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 owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’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 value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Down 0.3 %

RTX stock traded down $0.30 during trading hours on Friday, reaching $101.41. The stock had a trading volume of 4,428,318 shares, compared to its average volume of 8,154,806. The company has a market cap of $134.83 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.84 and a beta of 0.88. 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’s 50 day moving average price is $95.57 and its 200-day moving average price is $87.51. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89.

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

RTX Announces Dividend

The business also recently disclosed 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 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 (DPR) is currently 92.55%.

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.