Beese Fulmer Investment Management Inc. Has $21.20 Million Holdings in RTX Co. (NYSE:RTX)

Beese Fulmer Investment Management Inc. cut its stake in RTX Co. (NYSE:RTX) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,970 shares of the company’s stock after selling 593 shares during the period. RTX comprises approximately 1.8% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 12th largest holding. Beese Fulmer Investment Management Inc.’s holdings in RTX were worth $21,199,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in RTX during the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC increased its stake in shares of RTX by 7.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after buying an additional 166 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the period. Cetera Investment Advisers increased its stake in shares of RTX by 174.0% in the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after buying an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new stake in shares of RTX in the 2nd quarter valued at $602,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

NYSE:RTX opened at $127.21 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s 50-day simple moving average is $121.46 and its 200 day simple moving average is $111.02. The company has a market cap of $169.22 billion, a P/E ratio of 36.35, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a 52-week low of $76.96 and a 52-week high of $128.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, sell-side analysts forecast that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group raised their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and raised their price target for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $168.56.

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.