Terra Nova Asset Management LLC Sells 545 Shares of RTX Co. (NYSE:RTX)

Terra Nova Asset Management LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,104 shares of the company’s stock after selling 545 shares during the quarter. Terra Nova Asset Management LLC’s holdings in RTX were worth $429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Morgan Stanley increased its holdings in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Norges Bank purchased a new stake in RTX during the 4th quarter valued at $1,580,608,000. Northern Trust Corp boosted its stake in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after acquiring an additional 60,319 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock worth $3,448,188. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $97.56 on Friday. The firm has a 50-day simple moving average of $91.41 and a 200-day simple moving average of $83.52. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $129.72 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. On average, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RTX shares. Royal Bank of Canada lifted their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Wells Fargo & Company upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $100.00 to $120.00 in a research note on Thursday, March 14th. Barclays raised their price target on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, UBS Group boosted their price objective on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.12.

RTX Company 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.