Ellis Investment Partners LLC Sells 3,860 Shares of RTX Co. (NYSE:RTX)

Ellis Investment Partners LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 23.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,954 shares of the company’s stock after selling 3,860 shares during the period. Ellis Investment Partners LLC’s holdings in RTX were worth $1,570,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in shares of RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the second quarter worth approximately $41,000. Finally, Stephens Consulting LLC increased its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup increased their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. 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. Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Melius Research increased their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $168.56.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’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 of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,856 shares of company stock valued at $17,131,253. 0.13% of the stock is owned by company insiders.

RTX Stock Down 0.0 %

NYSE RTX traded down $0.01 during trading on Friday, hitting $125.16. The company’s stock had a trading volume of 4,716,205 shares, compared to its average volume of 6,752,277. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $166.40 billion, a PE ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The business’s 50 day simple moving average is $121.74 and its 200-day simple moving average is $111.35.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period last year, the business earned $1.25 EPS. RTX’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is 98.82%.

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.