D.B. Root & Company LLC Has $975,000 Stock Position in RTX Co. (NYSE:RTX)

D.B. Root & Company LLC reduced its position in RTX Co. (NYSE:RTX) by 32.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,716 shares of the company’s stock after selling 4,602 shares during the quarter. D.B. Root & Company LLC’s holdings in RTX were worth $975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC lifted its holdings in shares of RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after acquiring an additional 19,779 shares during the last quarter. TCW Group Inc. bought a new stake in shares of RTX during the fourth quarter worth $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX in the 4th quarter valued at $672,000. Mather Group LLC. boosted its holdings in shares of RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,079 shares in the last quarter. Finally, AllGen Financial Advisors Inc. increased its holdings in RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after purchasing an additional 3,657 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays raised 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, April 30th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Sunday. UBS Group raised 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. Finally, JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.4 %

Shares of RTX stock traded up $0.45 during trading hours on Monday, reaching $116.60. The company’s stock had a trading volume of 8,486,690 shares, compared to its average volume of 7,349,135. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s fifty day simple moving average is $106.62 and its two-hundred day simple moving average is $100.64. The company has a market capitalization of $155.11 billion, a P/E ratio of 45.73, a P/E/G ratio of 2.05 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $118.30.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that RTX Co. will post 5.44 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

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.