Ballentine Partners LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Ballentine Partners LLC reduced its position in RTX Co. (NYSE:RTX) by 11.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,693 shares of the company’s stock after selling 3,393 shares during the quarter. Ballentine Partners LLC’s holdings in RTX were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. TCW Group Inc. bought a new position in shares of RTX in the fourth quarter worth $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX in the fourth quarter worth $672,000. Mather Group LLC. boosted its holdings in shares of 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 during the period. Rockline Wealth Management LLC bought a new position in shares of RTX in the fourth quarter worth $2,438,000. Finally, AllGen Financial Advisors Inc. boosted its holdings in shares of RTX by 12.8% in the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after acquiring an additional 3,657 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX traded up $1.12 during trading hours on Monday, reaching $106.73. 420,389 shares of the stock traded hands, compared to its average volume of 7,417,449. The company has a market cap of $141.90 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. The stock has a 50 day simple moving average of $104.38 and a two-hundred day simple moving average of $94.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.36%. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Bank of America raised their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna lifted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.33.

Insider Transactions at RTX

In other 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 transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred 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 sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. Company insiders own 0.13% of the company’s stock.

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.