Sandy Cove Advisors LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Sandy Cove Advisors LLC trimmed its stake in RTX Co. (NYSE:RTX) by 5.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,451 shares of the company’s stock after selling 236 shares during the quarter. Sandy Cove Advisors LLC’s holdings in RTX were worth $434,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. RFG Advisory LLC grew its position in RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new stake in RTX in the fourth quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in RTX during the fourth quarter valued at about $672,000. Mather Group LLC. raised its position in RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC acquired a new stake in RTX in the 4th quarter valued at about $2,438,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last 90 days. 0.13% of the stock is owned by insiders.

RTX Stock Performance

Shares of RTX stock traded down $0.23 during mid-day trading on Friday, reaching $100.39. The stock had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The firm’s 50 day simple moving average is $104.42 and its 200 day simple moving average is $95.57. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $133.47 billion, a PE ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.83. RTX Co. has a one year low of $68.56 and a one year high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus price target of $98.33.

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.