Farmers & Merchants Investments Inc. Sells 4,180 Shares of RTX Co. (NYSE:RTX)

Farmers & Merchants Investments Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 118,034 shares of the company’s stock after selling 4,180 shares during the period. Farmers & Merchants Investments Inc.’s holdings in RTX were worth $11,512,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RTX. Gotham Asset Management LLC lifted its position in shares of RTX by 86.9% in the third quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock valued at $1,991,000 after acquiring an additional 12,863 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of RTX by 5,145.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock worth $1,725,000 after buying an additional 23,514 shares in the last quarter. Logan Capital Management Inc. lifted its position in shares of RTX by 3.0% in the third quarter. Logan Capital Management Inc. now owns 25,110 shares of the company’s stock worth $1,807,000 after buying an additional 743 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of RTX in the third quarter worth about $4,507,000. Finally, AQR Capital Management LLC lifted its position in shares of RTX by 90.2% in the third quarter. AQR Capital Management LLC now owns 977,564 shares of the company’s stock worth $70,355,000 after buying an additional 463,492 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX traded up $0.23 during midday trading on Tuesday, hitting $99.78. 1,682,489 shares of the company were exchanged, compared to its average volume of 7,522,367. The company’s 50 day simple moving average is $104.38 and its 200 day simple moving average is $95.78. The firm has a market capitalization of $132.66 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-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 for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity

In related news, insider Stephen J. Timm sold 19,880 shares of RTX 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 sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX 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 owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTX. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. UBS Group upped their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $98.33.

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.