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

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

Other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the third quarter worth $29,000. Western Pacific Wealth Management LP bought a new position in shares of RTX during the third quarter valued at $41,000. Modus Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX during the fourth quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of RTX by 296.8% during the fourth 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 in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RTX shares. Barclays upped their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 1.7 %

NYSE RTX opened at $125.33 on Tuesday. The stock’s 50-day moving average price is $121.64 and its 200-day moving average price is $121.05. 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 52 week low of $88.95 and a 52 week high of $132.43. The company has a market capitalization of $166.95 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. On average, equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 2.01%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.