RTX Co. (NYSE:RTX) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in RTX Co. (NYSE:RTX) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 348,418 shares of the company’s stock after selling 19,729 shares during the quarter. Amalgamated Bank’s holdings in RTX were worth $29,316,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the 4th quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in RTX during the third quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new stake in RTX during the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. raised its stake in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the period. Finally, Valley National Advisers Inc. boosted its position 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 purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 0.7 %

Shares of NYSE:RTX traded up $0.67 during mid-day trading on Thursday, hitting $101.89. The stock had a trading volume of 5,533,961 shares, compared to its average volume of 8,089,088. The company has a market cap of $135.46 billion, a PE ratio of 39.73, a P/E/G ratio of 1.83 and a beta of 0.84. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company’s 50 day moving average is $96.23 and its 200-day moving average is $88.21.

RTX (NYSE:RTX) last issued 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 firm had revenue of $19.30 billion for 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%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.47%. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Activity

In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on RTX. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Barclays raised their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Citigroup upped their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $96.93.

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.