Amalgamated Bank Cuts Position in RTX Co. (NYSE:RTX)

Amalgamated Bank lessened its position in shares of RTX Co. (NYSE:RTX) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,967 shares of the company’s stock after selling 643 shares during the quarter. Amalgamated Bank’s holdings in RTX were worth $30,662,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter valued at approximately $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter valued at approximately $41,000. Modus Advisors LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RTX shares. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

RTX Trading Up 1.7 %

Shares of NYSE:RTX opened at $125.33 on Tuesday. RTX Co. has a 12-month low of $88.95 and a 12-month high of $132.43. The business’s fifty day simple moving average is $121.64 and its 200-day simple moving average is $121.05. The company has a market capitalization of $166.95 billion, a PE ratio of 35.30, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly 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%. As a group, equities research analysts predict that RTX Co. will post 6.11 earnings per share 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. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.