Matrix Asset Advisors Inc. NY Reduces Stake in RTX Co. (NYSE:RTX)

Matrix Asset Advisors Inc. NY reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,559 shares of the company’s stock after selling 414 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in RTX were worth $7,083,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ballast Inc. grew its stake in shares of RTX by 5.8% during the 2nd quarter. Ballast Inc. now owns 13,012 shares of the company’s stock worth $1,306,000 after acquiring an additional 718 shares during the period. Delta Financial Group Inc. boosted its position in RTX by 5.8% during the second quarter. Delta Financial Group Inc. now owns 2,199 shares of the company’s stock worth $221,000 after purchasing an additional 120 shares during the period. Northwest Investment Counselors LLC increased its stake in shares of RTX by 18.2% in the second quarter. Northwest Investment Counselors LLC now owns 2,044 shares of the company’s stock worth $205,000 after purchasing an additional 314 shares in the last quarter. Granite Bay Wealth Management LLC increased its stake in shares of RTX by 4,270.1% in the second quarter. Granite Bay Wealth Management LLC now owns 127,652 shares of the company’s stock worth $13,141,000 after purchasing an additional 124,731 shares in the last quarter. Finally, Verum Partners LLC raised its position in shares of RTX by 7.1% in the second quarter. Verum Partners LLC now owns 4,051 shares of the company’s stock valued at $407,000 after purchasing an additional 269 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTX. Citigroup lifted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Barclays increased their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, UBS Group increased their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Price Performance

NYSE RTX traded up $0.45 during trading hours on Monday, reaching $116.60. 8,486,690 shares of the stock traded hands, compared to its average volume of 7,349,135. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a 50 day simple moving average of $106.62 and a two-hundred day simple moving average of $100.64. RTX Co. has a 1 year low of $68.56 and a 1 year high of $118.30. The company has a market cap of $155.11 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. On average, analysts predict that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

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