RTX Co. (NYSE:RTX) Shares Sold by Montis Financial LLC

Montis Financial LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,984 shares of the company’s stock after selling 422 shares during the quarter. Montis Financial LLC’s holdings in RTX were worth $504,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RTX. Northern Trust Corp lifted its position in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after buying an additional 60,319 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after acquiring an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. raised its position in RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after acquiring an additional 593,305 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group upped their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays lifted their price objective 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 report on Tuesday, January 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, TD Cowen raised 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. 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.93.

RTX Price Performance

RTX stock traded up $0.67 during midday trading on Thursday, reaching $101.89. The stock had a trading volume of 5,539,596 shares, compared to its average volume of 8,098,568. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company has a market cap of $135.46 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company’s fifty day simple moving average is $96.23 and its 200 day simple moving average is $88.21. 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 (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping 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 period last year, the firm posted $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Buying and Selling

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,547 shares of company stock worth $12,553,645. 0.13% of the stock is owned by corporate insiders.

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.