RTX Co. (NYSE:RTX) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC cut its position in RTX Co. (NYSE:RTX) by 10.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,852 shares of the company’s stock after selling 9,444 shares during the quarter. RTX accounts for about 2.8% of Oak Asset Management LLC’s portfolio, making the stock its 8th largest holding. Oak Asset Management LLC’s holdings in RTX were worth $7,495,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC increased its position in RTX by 7.9% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares in the last quarter. Jacobsen Capital Management grew its holdings in RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after acquiring an additional 114 shares during the last quarter. Diligent Investors LLC grew its holdings in RTX by 1.4% during the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after acquiring an additional 118 shares during the last quarter. Hummer Financial Advisory Services Inc grew its holdings in RTX by 1.7% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after acquiring an additional 120 shares during the last quarter. Finally, Lcnb Corp grew its holdings in RTX by 1.8% during the 4th quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after acquiring an additional 122 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.2 %

RTX stock opened at $100.39 on Monday. The company has a market capitalization of $133.47 billion, a PE ratio of 39.37, a PEG ratio of 1.76 and a beta of 0.82. The firm’s fifty day moving average is $104.42 and its 200 day moving average is $95.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during 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 firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.51%. RTX’s payout ratio is currently 98.82%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RTX. 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 report on Tuesday, April 30th. TD Cowen upped their price objective 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. Wells Fargo & Company upped their price objective on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.33.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of 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 is available through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 transaction, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by company insiders.

RTX 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.