Osborne Partners Capital Management LLC Trims Stake in RTX Co. (NYSE:RTX)

Osborne Partners Capital Management LLC cut its position in shares of RTX Co. (NYSE:RTX) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,710 shares of the company’s stock after selling 2,565 shares during the period. Osborne Partners Capital Management LLC’s holdings in RTX were worth $8,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. BKM Wealth Management LLC purchased a new position in RTX during the 3rd quarter valued at $562,000. Joel Isaacson & Co. LLC boosted its stake in shares of RTX by 2.9% during the third quarter. Joel Isaacson & Co. LLC now owns 9,433 shares of the company’s stock valued at $1,143,000 after purchasing an additional 263 shares during the period. Shayne & Jacobs LLC grew its holdings in shares of RTX by 0.9% in the third quarter. Shayne & Jacobs LLC now owns 13,812 shares of the company’s stock worth $1,673,000 after purchasing an additional 121 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in RTX by 6.6% in the 3rd quarter. Mediolanum International Funds Ltd now owns 29,400 shares of the company’s stock worth $3,534,000 after buying an additional 1,831 shares during the period. Finally, Tandem Capital Management Corp ADV lifted its holdings in RTX by 72.2% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 6,866 shares of the company’s stock valued at $832,000 after buying an additional 2,879 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 0.0 %

NYSE:RTX opened at $125.16 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $121.74 and a 200-day simple moving average of $111.28. RTX Co. has a 12 month low of $77.76 and a 12 month high of $128.70. The company has a market capitalization of $166.40 billion, a P/E ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.5 earnings per share for the current year.

RTX Dividend Announcement

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 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 98.82%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of RTX 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 transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the company’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 owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,856 shares of company stock worth $17,131,253. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. Royal Bank of Canada boosted their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday. Morgan Stanley upped their price objective on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup raised their target price on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group upped their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $168.56.

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.