Osborne Partners Capital Management LLC Cuts Position in RTX Co. (NYSE:RTX)

Osborne Partners Capital Management LLC reduced its holdings in RTX Co. (NYSE:RTX) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,710 shares of the company’s stock after selling 2,565 shares during the period. Osborne Partners Capital Management LLC’s holdings in RTX were worth $8,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its position in RTX by 12.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 12,997 shares of the company’s stock worth $1,268,000 after acquiring an additional 1,388 shares during the period. Kathmere Capital Management LLC lifted its stake in RTX by 4.8% in the 1st quarter. Kathmere Capital Management LLC now owns 3,276 shares of the company’s stock valued at $320,000 after buying an additional 149 shares in the last quarter. Norway Savings Bank purchased a new position in shares of RTX in the first quarter valued at approximately $263,000. Hennion & Walsh Asset Management Inc. increased its position in shares of RTX by 10.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 27,827 shares of the company’s stock worth $2,714,000 after purchasing an additional 2,636 shares in the last quarter. Finally, First Bank & Trust acquired a new position in RTX in the 1st quarter valued at $205,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,856 shares of company stock worth $17,131,253. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Robert W. Baird boosted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One 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 stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus price target of $168.56.

RTX Stock Performance

Shares of RTX stock opened at $125.16 on Friday. The stock has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. 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 business has a 50-day moving average of $121.74 and a 200 day moving average of $111.28. RTX Co. has a 12 month low of $77.76 and a 12 month high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th 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 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is currently 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.