Americana Partners LLC Has $1.56 Million Position in RTX Co. (NYSE:RTX)

Americana Partners LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,517 shares of the company’s stock after selling 2,450 shares during the quarter. Americana Partners LLC’s holdings in RTX were worth $1,558,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Briaud Financial Planning Inc grew its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the second quarter worth about $26,000. Fairman Group LLC acquired a new position in RTX during the fourth quarter worth $38,000. Beaird Harris Wealth Management LLC raised its position in RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares in the last quarter. Finally, USA Financial Formulas lifted its stake in RTX by 510.3% in the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.9 %

Shares of RTX stock opened at $123.34 on Friday. The company has a market cap of $164.07 billion, a PE ratio of 48.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $110.19 and its two-hundred day simple moving average is $103.29. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is 98.82%.

Analyst Ratings Changes

Several brokerages have issued reports on RTX. Susquehanna raised their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling

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 transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction 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 sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. 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.