ELCO Management Co. LLC Sells 550 Shares of RTX Co. (NYSE:RTX)

ELCO Management Co. LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,651 shares of the company’s stock after selling 550 shares during the quarter. ELCO Management Co. LLC’s holdings in RTX were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in RTX in the 4th quarter worth about $1,745,644,000. Amundi grew its position in shares of RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in RTX during the 4th quarter worth approximately $216,340,000. Finally, Invesco Ltd. boosted its position in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Susquehanna lifted 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. Morgan Stanley increased their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on RTX from $156.00 to $136.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on 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 directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by corporate insiders.

RTX Stock Up 2.5 %

NYSE:RTX opened at $120.28 on Wednesday. The stock’s 50 day moving average price is $128.65 and its two-hundred day moving average price is $123.40. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. The firm has a market capitalization of $160.58 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. 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 (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued 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 2.10%. RTX’s payout ratio is currently 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.