RTX Co. (NYSE:RTX) Stake Cut by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its holdings in RTX Co. (NYSE:RTX) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,630 shares of the company’s stock after selling 900 shares during the period. RTX comprises about 1.2% of Patten & Patten Inc. TN’s holdings, making the stock its 20th largest holding. Patten & Patten Inc. TN’s holdings in RTX were worth $17,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RTX. Fusion Capital LLC raised its stake in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc raised its stake in shares of RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. raised its stake in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Pointe Capital Management LLC raised its stake 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. Finally, Avestar Capital LLC raised its stake in shares of RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX opened at $130.00 on Friday. The firm has a market capitalization of $173.56 billion, a P/E ratio of 36.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The stock’s 50 day moving average price is $125.33 and its two-hundred day moving average price is $122.16. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $92.35 and a 12-month high of $135.36.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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%. On average, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RTX. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’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 value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by corporate insiders.

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.