Vicus Capital Sells 3,354 Shares of RTX Co. (NYSE:RTX)

Vicus Capital reduced its stake in RTX Co. (NYSE:RTX) by 53.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,890 shares of the company’s stock after selling 3,354 shares during the period. Vicus Capital’s holdings in RTX were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DeDora Capital Inc. lifted its holdings in RTX by 0.6% during the third quarter. DeDora Capital Inc. now owns 23,019 shares of the company’s stock worth $2,789,000 after acquiring an additional 148 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in RTX by 220.8% during the third quarter. Foundations Investment Advisors LLC now owns 57,059 shares of the company’s stock worth $6,913,000 after acquiring an additional 39,271 shares in the last quarter. Ledyard National Bank lifted its holdings in RTX by 1.7% during the third quarter. Ledyard National Bank now owns 16,197 shares of the company’s stock worth $1,962,000 after acquiring an additional 278 shares in the last quarter. Waterway Wealth Management LLC bought a new position in RTX during the third quarter worth about $212,000. Finally, Raleigh Capital Management Inc. lifted its holdings in RTX by 52.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the company’s stock worth $122,000 after acquiring an additional 345 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RTX has been the topic of several recent analyst reports. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.50.

RTX Price Performance

NYSE:RTX opened at $125.54 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock’s 50-day simple moving average is $121.09 and its 200 day simple moving average is $110.74. The company has a market cap of $166.91 billion, a P/E ratio of 49.23, a P/E/G ratio of 2.24 and a beta of 0.82. RTX Co. has a 52-week low of $72.52 and a 52-week high of $128.70.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is currently 98.82%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 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.