Tufton Capital Management Sells 574 Shares of RTX Co. (NYSE:RTX)

Tufton Capital Management cut its holdings in shares of RTX Co. (NYSE:RTX) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 88,000 shares of the company’s stock after selling 574 shares during the period. RTX makes up about 1.9% of Tufton Capital Management’s portfolio, making the stock its 14th biggest position. Tufton Capital Management’s holdings in RTX were worth $10,183,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX in the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the 4th quarter valued at $40,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX opened at $130.49 on Friday. The business’s 50-day moving average price is $122.39 and its two-hundred day moving average price is $121.24. RTX Co. has a 1 year low of $88.95 and a 1 year high of $132.43. The company has a market capitalization of $173.83 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

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

RTX Dividend Announcement

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 issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley increased their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $147.00 in a research note on Monday. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,334 shares of company stock worth $4,639,194 in the last quarter. 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.