Hillsdale Investment Management Inc. Has $448,000 Position in RTX Co. (NYSE:RTX)

Hillsdale Investment Management Inc. trimmed its stake in shares of RTX Co. (NYSE:RTX) by 44.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,870 shares of the company’s stock after selling 3,150 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in RTX were worth $448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Millstone Evans Group LLC bought a new position in RTX in the fourth quarter valued at about $39,000. Modus Advisors LLC acquired a new stake in shares of RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX during the fourth quarter worth about $40,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective 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 report on Tuesday, February 11th. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Trading Up 1.8 %

RTX opened at $134.76 on Tuesday. The company has a market cap of $179.92 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a fifty day moving average price of $127.48 and a two-hundred day moving average price of $122.66. 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 Co. has a 1-year low of $95.27 and a 1-year high of $135.74.

RTX (NYSE:RTX) last issued its earnings results 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%. Analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

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.