Highland Capital Management LLC Has $13.65 Million Stake in RTX Co. (NYSE:RTX)

Highland Capital Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 112,655 shares of the company’s stock after selling 3,137 shares during the period. RTX accounts for 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Highland Capital Management LLC’s holdings in RTX were worth $13,649,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD acquired a new stake in shares of RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC grew its holdings in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RTX shares. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Morgan Stanley lifted their target price on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.56.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is currently owned by company insiders.

RTX Trading Down 0.0 %

RTX stock opened at $125.16 on Friday. RTX Co. has a 52 week low of $77.76 and a 52 week high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $166.40 billion, a PE ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82. The business’s 50-day simple moving average is $121.74 and its 200-day simple moving average is $111.28.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio is 98.82%.

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.