RTX Co. (NYSE:RTX) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in RTX Co. (NYSE:RTX) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,418 shares of the company’s stock after selling 19,729 shares during the quarter. Amalgamated Bank’s holdings in RTX were worth $29,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX during the 4th quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new position in RTX in the 3rd quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

NYSE:RTX traded up $0.67 during trading hours on Thursday, reaching $101.89. 5,533,961 shares of the company were exchanged, compared to its average volume of 8,089,088. The business has a 50 day moving average of $96.23 and a 200 day moving average of $88.21. The company has a market capitalization of $135.46 billion, a P/E ratio of 39.73, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Research analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.47%. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed 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 shares were 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 127,547 shares of company stock valued at $12,553,645 over the last quarter. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $96.93.

RTX Company 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.