Buffington Mohr McNeal Trims Stock Position in RTX Co. (NYSE:RTX)

Buffington Mohr McNeal cut its stake in shares of RTX Co. (NYSE:RTX) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,001 shares of the company’s stock after selling 1,550 shares during the period. Buffington Mohr McNeal’s holdings in RTX were worth $1,178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in RTX during the 4th quarter worth approximately $2,438,000. B&D White Capital Company LLC acquired a new position in RTX during the 3rd quarter worth approximately $14,186,000. Hurlow Wealth Management Group Inc. acquired a new position in RTX during the 4th quarter worth approximately $206,000. Finally, Cape Cod Five Cents Savings Bank increased its position in RTX by 23.0% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 27,622 shares of the company’s stock worth $1,988,000 after purchasing an additional 5,159 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last quarter. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RTX. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. UBS Group boosted their target price on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Robert W. Baird boosted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $94.44.

RTX Price Performance

RTX stock traded up $1.07 during mid-day trading on Tuesday, hitting $101.09. 2,888,752 shares of the company were exchanged, compared to its average volume of 8,276,306. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The business’s 50 day simple moving average is $93.79 and its two-hundred day simple moving average is $85.82. The company has a market capitalization of $134.41 billion, a P/E ratio of 44.65, a PEG ratio of 1.82 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

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.