RTX Co. (NYSE:RTX) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its stake in RTX Co. (NYSE:RTX) by 19.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,344 shares of the company’s stock after selling 1,800 shares during the quarter. Tributary Capital Management LLC’s holdings in RTX were worth $890,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the 2nd quarter valued at approximately $41,000. Finally, Stephens Consulting LLC lifted its position in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research report on Tuesday, July 30th. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $175.27.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $125.16 on Monday. RTX Co. has a 1 year low of $77.76 and a 1 year high of $128.70. The firm’s fifty day simple moving average is $121.74 and its 200 day simple moving average is $111.42. 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 market capitalization of $166.59 billion, a PE ratio of 35.76, a PEG ratio of 2.17 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 (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.57 EPS for the current year.

RTX Announces Dividend

The business 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 $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio is 72.00%.

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.