Somerville Kurt F Sells 480 Shares of RTX Co. (NYSE:RTX)

Somerville Kurt F cut its holdings in shares of RTX Co. (NYSE:RTX) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 97,072 shares of the company’s stock after selling 480 shares during the quarter. RTX accounts for about 1.9% of Somerville Kurt F’s portfolio, making the stock its 23rd biggest holding. Somerville Kurt F’s holdings in RTX were worth $11,233,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC acquired a new stake in RTX during the fourth quarter worth about $39,000. Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the 4th quarter valued at approximately $40,000. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on RTX shares. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Price Performance

Shares of RTX stock opened at $130.14 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $173.75 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.11 and a beta of 0.58. The firm’s 50 day moving average is $129.21 and its 200-day moving average is $123.36. RTX Co. has a 1 year low of $97.90 and a 1 year high of $136.17.

RTX (NYSE:RTX) last announced its quarterly earnings data 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%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.94%. RTX’s payout ratio is presently 70.99%.

Insider Activity

In other news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This 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. 0.15% of the stock is currently owned by insiders.

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.