Procyon Advisors LLC Buys 463 Shares of RTX Co. (NYSE:RTX)

Procyon Advisors LLC raised its stake in RTX Co. (NYSE:RTX) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 33,970 shares of the company’s stock after purchasing an additional 463 shares during the quarter. Procyon Advisors LLC’s holdings in RTX were worth $4,115,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in shares of RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter worth about $32,000. Fairman Group LLC purchased a new position in RTX in the 4th quarter worth about $38,000. Finally, Fairfield Financial Advisors LTD bought a new stake in RTX during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s 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 approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders 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

RTX has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.50.

RTX Trading Up 0.0 %

NYSE RTX opened at $123.95 on Monday. 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 market capitalization of $164.79 billion, a P/E ratio of 48.60, a PEG ratio of 2.18 and a beta of 0.82. The firm’s 50-day moving average is $119.86 and its two-hundred day moving average is $109.58. RTX Co. has a 12 month low of $72.48 and a 12 month high of $125.93.

RTX (NYSE:RTX) last announced its 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. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.46 earnings per share for the current year.

RTX Announces Dividend

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