Mitchell Sinkler & Starr PA Has $1.98 Million Stock Position in RTX Co. (NYSE:RTX)

Mitchell Sinkler & Starr PA cut its stake in shares of RTX Co. (NYSE:RTX) by 20.9% in the fourth quarter, Holdings Channel reports. The firm owned 17,109 shares of the company’s stock after selling 4,508 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in RTX were worth $1,980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its stake in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares in the last quarter. Quantbot Technologies LP bought a new position in RTX during the third quarter worth about $405,000. Freedom Investment Management Inc. grew its stake in RTX by 37.7% in the third quarter. Freedom Investment Management Inc. now owns 3,508 shares of the company’s stock valued at $425,000 after acquiring an additional 960 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of RTX by 31.9% in the third quarter. CreativeOne Wealth LLC now owns 18,072 shares of the company’s stock worth $2,190,000 after acquiring an additional 4,374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of RTX by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 293,272 shares of the company’s stock valued at $35,533,000 after purchasing an additional 16,361 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.3 %

Shares of NYSE:RTX opened at $131.68 on Friday. The stock has a market cap of $175.81 billion, a PE ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. 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 $97.03 and a 12-month high of $136.17. The business has a 50 day moving average of $128.59 and a 200-day moving average of $123.01.

RTX (NYSE:RTX) last issued 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%. As a group, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the firm’s stock in a transaction 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 owns 29,742 shares in the company, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’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 sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. 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 quarter. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research reports. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Susquehanna raised their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.