BNP Paribas Trims Stake in RTX Co. (NYSE:RTX)

BNP Paribas lowered its position in shares of RTX Co. (NYSE:RTX) by 98.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 550 shares of the company’s stock after selling 35,661 shares during the period. BNP Paribas’ holdings in RTX were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RTX. Fairway Wealth LLC purchased a new position in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX in the 4th quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC grew its holdings in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $128.60 on Tuesday. The business’s fifty day moving average price is $128.50 and its 200 day moving average price is $123.83. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $171.80 billion, a PE ratio of 36.23, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Citigroup reduced their target price on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $161.06.

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.