RTX Co. (NYSE:RTX) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,299 shares of the company’s stock after selling 8,453 shares during the quarter. RTX comprises about 1.8% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Argyle Capital Management Inc.’s holdings in RTX were worth $4,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp increased its stake in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after buying an additional 60,319 shares in the last quarter. Sanders Capital LLC boosted its holdings in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after buying an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after buying an additional 593,305 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by corporate insiders.

RTX Stock Down 0.3 %

Shares of RTX stock traded down $0.30 during midday trading on Friday, reaching $101.41. 4,428,318 shares of the company’s stock traded hands, compared to its average volume of 8,154,806. The company has a market cap of $134.83 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company’s 50 day simple moving average is $95.57 and its 200 day simple moving average is $87.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Equities analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio is currently 92.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RTX. Barclays raised their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Royal Bank of Canada raised their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus target price of $96.27.

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.