RTX Co. (NYSE:RTX) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,957 shares of the company’s stock after selling 151 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in RTX were worth $899,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RTX. POM Investment Strategies LLC lifted its position in RTX by 13.2% in the 2nd quarter. POM Investment Strategies LLC now owns 1,613 shares of the company’s stock valued at $162,000 after purchasing an additional 188 shares during the last quarter. Optas LLC acquired a new stake in shares of RTX in the second quarter valued at approximately $267,000. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of RTX by 5.6% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 44,688 shares of the company’s stock valued at $4,486,000 after buying an additional 2,376 shares during the last quarter. Field & Main Bank boosted its position in shares of RTX by 1.3% during the second quarter. Field & Main Bank now owns 18,340 shares of the company’s stock worth $1,841,000 after buying an additional 243 shares during the period. Finally, Fullcircle Wealth LLC bought a new position in RTX in the 2nd quarter worth approximately $1,732,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective 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, Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Performance

NYSE:RTX traded up $0.50 during midday trading on Friday, reaching $118.52. The stock had a trading volume of 3,427,510 shares, compared to its average volume of 5,713,840. The stock has a market capitalization of $157.66 billion, a P/E ratio of 46.48, a PEG ratio of 2.08 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. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99. The firm’s fifty day simple moving average is $108.59 and its 200-day simple moving average is $102.24.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is presently 98.82%.

Insider Activity

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on 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 directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the 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 completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

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.