Bessemer Group Inc. Sells 2,906 Shares of RTX Co. (NYSE:RTX)

Bessemer Group Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 6.3% in the 4th quarter, Holdings Channel reports. The fund owned 42,860 shares of the company’s stock after selling 2,906 shares during the quarter. Bessemer Group Inc.’s holdings in RTX were worth $4,960,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RTX. 1620 Investment Advisors Inc. boosted its stake in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares during the last quarter. Fusion Capital LLC lifted its position in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc boosted its stake in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. boosted its position in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares during the period. Finally, Pointe Capital Management LLC grew its position in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of NYSE RTX opened at $128.24 on Friday. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm’s 50-day simple moving average is $128.56 and its 200 day simple moving average is $123.59. The stock has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $164.73.

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.