Dover Advisors LLC Trims Holdings in RTX Co. (NYSE:RTX)

Dover Advisors LLC cut its stake in RTX Co. (NYSE:RTX) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,303 shares of the company’s stock after selling 4,095 shares during the quarter. RTX comprises about 2.0% of Dover Advisors LLC’s holdings, making the stock its 14th largest position. Dover Advisors LLC’s holdings in RTX were worth $1,540,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RTX. Boston Partners purchased a new position in shares of RTX in the third quarter worth about $355,350,000. Massachusetts Financial Services Co. MA raised its position in RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Van ECK Associates Corp raised its position in RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after purchasing an additional 1,745,344 shares during the last quarter. Sanders Capital LLC raised its position in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock traded down $0.30 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 has a market cap of $134.83 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. The company has a 50 day simple moving average of $95.57 and a 200 day simple moving average of $87.71.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. RTX’s dividend payout ratio is presently 92.55%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Barclays increased their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.27.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock valued at $3,448,188 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

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.