Intact Investment Management Inc. Sells 2,450 Shares of RTX Co. (NYSE:RTX)

Intact Investment Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,350 shares of the company’s stock after selling 2,450 shares during the quarter. Intact Investment Management Inc.’s holdings in RTX were worth $9,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bear Mountain Capital Inc. bought a new position in shares of RTX in the fourth quarter valued at $25,000. Planned Solutions Inc. bought a new position in shares of RTX in the fourth quarter valued at $30,000. Strengthening Families & Communities LLC bought a new position in shares of RTX in the third quarter valued at $28,000. Financial Gravity Asset Management Inc. lifted its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX in the fourth quarter valued at $38,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Susquehanna raised their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.27.

RTX Price Performance

Shares of RTX stock traded down $0.30 during trading hours on Friday, reaching $101.41. The stock had a trading volume of 4,428,318 shares, compared to its average volume of 8,154,806. The stock’s fifty day simple moving average is $95.57 and its 200 day simple moving average is $87.51. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89. The firm has a market capitalization of $134.83 billion, a PE ratio of 39.76, a PEG ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the business earned $1.22 earnings per share. RTX’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last three months. 0.13% of the stock is owned by insiders.

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.