RTX Co. (NYSE:RTX) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC reduced its holdings in RTX Co. (NYSE:RTX) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,342 shares of the company’s stock after selling 1,383 shares during the quarter. RTX makes up 2.5% of Renaissance Investment Group LLC’s portfolio, making the stock its 16th biggest holding. Renaissance Investment Group LLC’s holdings in RTX were worth $11,915,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc increased its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the second quarter worth about $32,000. Fairman Group LLC acquired a new stake in RTX during the fourth quarter worth about $38,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in RTX during the second quarter worth about $41,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Up 0.8 %

Shares of RTX opened at $123.93 on Friday. The company has a market capitalization of $164.86 billion, a P/E ratio of 71.64, a P/E/G ratio of 2.18 and a beta of 0.82. RTX Co. has a one year low of $72.29 and a one year high of $125.93. 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 has a 50-day moving average price of $119.86 and a 200 day moving average price of $109.49.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. Sell-side analysts forecast that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 145.67%.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Susquehanna upped their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Melius Research upped their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.50.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. 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 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. Insiders own 0.13% of the company’s stock.

RTX 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.