RTX Co. (NYSE:RTX) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,670 shares of the company’s stock after selling 247 shares during the quarter. Essex Financial Services Inc.’s holdings in RTX were worth $6,535,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTX. Exchange Traded Concepts LLC raised its stake in RTX by 8,351.8% in the third quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock valued at $517,000 after buying an additional 7,099 shares in the last quarter. Accurate Wealth Management LLC raised its position in shares of RTX by 2.8% during the 3rd quarter. Accurate Wealth Management LLC now owns 8,525 shares of the company’s stock worth $630,000 after acquiring an additional 236 shares in the last quarter. Vicus Capital boosted its holdings in RTX by 150.3% in the third quarter. Vicus Capital now owns 6,867 shares of the company’s stock valued at $494,000 after purchasing an additional 4,124 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in RTX by 121.2% in the third quarter. Hexagon Capital Partners LLC now owns 2,002 shares of the company’s stock valued at $144,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in RTX by 10.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 311,168 shares of the company’s stock worth $22,395,000 after purchasing an additional 29,524 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’s 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the 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 sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 127,547 shares of company stock valued at $12,553,645 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays increased their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.93.

RTX Price Performance

Shares of RTX traded up $0.25 during mid-day trading on Wednesday, hitting $101.77. The company’s stock had a trading volume of 1,669,067 shares, compared to its average volume of 8,028,554. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The firm has a market capitalization of $135.30 billion, a P/E ratio of 39.81, a P/E/G ratio of 1.85 and a beta of 0.88. The firm has a 50-day simple moving average of $95.80 and a 200 day simple moving average of $87.92.

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

RTX Dividend Announcement

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