Summit X LLC Has $3.12 Million Stock Position in RTX Co. (NYSE:RTX)

Summit X LLC trimmed its position in RTX Co. (NYSE:RTX) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,937 shares of the company’s stock after selling 389 shares during the quarter. Summit X LLC’s holdings in RTX were worth $3,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in RTX during the third quarter worth about $29,000. Fairway Wealth LLC bought a new position in RTX during the fourth quarter worth about $31,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the fourth quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after buying an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Down 0.3 %

NYSE RTX opened at $128.16 on Wednesday. The stock has a market capitalization of $170.73 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.11 and a beta of 0.78. The stock’s 50 day moving average price is $124.54 and its two-hundred day moving average price is $121.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 52 week low of $89.44 and a 52 week high of $135.36.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % 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, 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 value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.13% of the stock is currently owned by insiders.

RTX Company 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.