Interchange Capital Partners LLC Trims Stake in RTX Co. (NYSE:RTX)

Interchange Capital Partners LLC cut its stake in RTX Co. (NYSE:RTX) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,344 shares of the company’s stock after selling 420 shares during the period. Interchange Capital Partners LLC’s holdings in RTX were worth $1,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management boosted its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Millstone Evans Group LLC bought a new position in RTX during the 4th quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in RTX in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $132.35 on Monday. RTX Co. has a one year low of $95.27 and a one year high of $135.74. The stock’s fifty day moving average is $127.15 and its 200 day moving average is $122.56. The stock has a market cap of $176.70 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.