Cigna Investments Inc. New Has $1.30 Million Stock Holdings in RTX Co. (NYSE:RTX)

Cigna Investments Inc. New cut its position in shares of RTX Co. (NYSE:RTXFree Report) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 15,388 shares of the company’s stock after selling 315 shares during the quarter. Cigna Investments Inc. New’s holdings in RTX were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its stake in shares of RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in shares of RTX during the 4th quarter worth about $2,438,000. B&D White Capital Company LLC acquired a new position in shares of RTX during the 3rd quarter worth about $14,186,000. Peddock Capital Advisors LLC grew its stake in RTX by 3.5% in the 3rd quarter. Peddock Capital Advisors LLC now owns 5,117 shares of the company’s stock valued at $368,000 after buying an additional 175 shares during the last quarter. Finally, Hurlow Wealth Management Group Inc. acquired a new position in RTX in the 4th quarter valued at about $206,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

NYSE:RTX traded down $0.07 on Tuesday, hitting $97.69. The company had a trading volume of 625,250 shares, compared to its average volume of 8,016,415. The stock has a market capitalization of $129.89 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 1.78 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $91.90 and a two-hundred day moving average of $83.93. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91.

RTX (NYSE:RTXGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the prior year, the company posted $1.27 earnings per share. RTX’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RTX. TD Cowen upped their price target 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. Barclays upped their price target on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Royal Bank of Canada upped their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Wells Fargo & Company restated an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday. Finally, Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and a consensus target price of $95.12.

Check Out Our Latest Report on RTX

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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