Eliot Finkel Investment Counsel LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Eliot Finkel Investment Counsel LLC lowered its stake in RTX Co. (NYSE:RTX) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,351 shares of the company’s stock after selling 294 shares during the period. Eliot Finkel Investment Counsel LLC’s holdings in RTX were worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares during the period. Fisher Asset Management LLC increased its holdings in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after purchasing an additional 576,214 shares during the period. Bank of New York Mellon Corp increased its holdings in RTX by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after purchasing an additional 549,814 shares during the period. FMR LLC increased its holdings in RTX by 8.7% during the 3rd 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after purchasing an additional 140,697 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $133.02 on Friday. The stock has a market capitalization of $177.19 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 12-month low of $88.95 and a 12-month high of $133.09. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $122.72 and its 200 day simple moving average is $121.38.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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. The trade was a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,334 shares of company stock valued at $4,639,194. 0.13% of the stock is owned by corporate 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.