Nvest Financial LLC Sells 824 Shares of RTX Co. (NYSE:RTX)

by · The Markets Daily

Nvest Financial LLC lowered its position in shares of RTX Co. (NYSE:RTX – Free Report) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,627 shares of the company’s stock after selling 824 shares during the quarter. RTX makes up about 1.8% of Nvest Financial LLC’s investment portfolio, making the stock its 16th largest position. Nvest Financial LLC’s holdings in RTX were worth $3,105,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Elgethun Capital Management boosted its holdings in RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after buying an additional 85 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares in the last quarter. Lazari Capital Management Inc. raised its position in shares of RTX by 1.6% during the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock worth $603,000 after purchasing an additional 95 shares during the period. Fermata Advisors LLC grew its position in shares of RTX by 4.3% in the 3rd quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock valued at $280,000 after purchasing an additional 96 shares during the period. Finally, Motco raised its holdings in RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RTX. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Susquehanna upped their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $162.50.

Get Our Latest Report on RTX

RTX Stock Up 0.0 %

NYSE RTX traded up $0.03 on Friday, hitting $122.97. 693,119 shares of the company were exchanged, compared to its average volume of 6,860,985. RTX Co. has a 12 month low of $72.29 and a 12 month high of $125.93. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $163.58 billion, a PE ratio of 71.06, a PEG ratio of 2.20 and a beta of 0.82. The stock has a fifty day moving average of $119.71 and a 200-day moving average of $109.20.

RTX (NYSE:RTX – Get Free Report) last issued its 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the company posted $1.29 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.46 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. RTX’s dividend payout ratio is currently 145.67%.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’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 transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This 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 have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

About RTX

(Free Report)

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.

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