Retirement Planning Co of New England Inc. Trims Stock Position in RTX Co. (NYSE:RTX)

Retirement Planning Co of New England Inc. cut its position in shares of RTX Co. (NYSE:RTX) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,429 shares of the company’s stock after selling 83 shares during the period. RTX accounts for 0.9% of Retirement Planning Co of New England Inc.’s holdings, making the stock its 26th biggest position. Retirement Planning Co of New England Inc.’s holdings in RTX were worth $1,785,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CX Institutional raised its stake in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares during the period. National Pension Service raised its position in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the last quarter. LRI Investments LLC increased its holdings in shares of RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after purchasing an additional 4,732 shares in the last quarter. Napa Wealth Management purchased a new position in shares of RTX in the 3rd quarter valued at about $1,307,000. Finally, Czech National Bank increased its holdings in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.4 %

Shares of NYSE RTX opened at $131.86 on Tuesday. RTX Co. has a 52-week low of $92.35 and a 52-week high of $135.36. The stock has a market cap of $176.04 billion, a PE ratio of 37.14, a PEG ratio of 2.11 and a beta of 0.78. 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 business has a fifty day moving average of $125.69 and a two-hundred day moving average of $122.23.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $142.00 to $147.00 in a research report on Monday, February 24th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last 90 days. Corporate 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.