Eliot Finkel Investment Counsel LLC Sells 188 Shares of RTX Co. (NYSE:RTX)

Eliot Finkel Investment Counsel LLC decreased its holdings in shares of RTX Co. (NYSE:RTX) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,645 shares of the company’s stock after selling 188 shares during the quarter. RTX comprises approximately 0.7% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 29th largest position. Eliot Finkel Investment Counsel LLC’s holdings in RTX were worth $1,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc grew its stake 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 acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth about $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the second quarter valued at about $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the first quarter valued at about $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Robert W. Baird raised their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company lowered their target price 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 research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and an average price target of $162.50.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred 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 owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This 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 accessible through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX 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 transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $125.92 on Friday. The business has a fifty day moving average of $120.91 and a 200-day moving average of $110.38. The firm has a market cap of $167.41 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a twelve month low of $72.48 and a twelve month high of $127.00.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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 $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. RTX’s payout ratio is 98.82%.

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.