Cohen Klingenstein LLC Has $17.09 Million Stock Position in RTX Co. (NYSE:RTX)

Cohen Klingenstein LLC reduced its position in RTX Co. (NYSE:RTX) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,261 shares of the company’s stock after selling 3,020 shares during the quarter. RTX makes up about 0.6% of Cohen Klingenstein LLC’s portfolio, making the stock its 27th largest position. Cohen Klingenstein LLC’s holdings in RTX were worth $17,093,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in shares of RTX during the 4th quarter valued at $25,000. Planned Solutions Inc. bought a new stake in RTX in the fourth quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Valley National Advisers Inc. boosted its position in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX in the 4th quarter valued at about $38,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.33.

Insider Transactions at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on 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 directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. 0.13% of the stock is owned by insiders.

RTX Price Performance

RTX stock opened at $101.10 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $104.42 and its two-hundred day moving average price is $95.12. The stock has a market capitalization of $134.41 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 1.85 and a beta of 0.83. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. As a group, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s payout ratio is presently 98.82%.

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.