Eagle Ridge Investment Management Has $10.48 Million Stake in RTX Co. (NYSE:RTX)

Eagle Ridge Investment Management trimmed its stake in shares of RTX Co. (NYSE:RTX) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,490 shares of the company’s stock after selling 664 shares during the period. Eagle Ridge Investment Management’s holdings in RTX were worth $10,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Bear Mountain Capital Inc. acquired a new stake in RTX in the 4th quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in RTX in the 3rd quarter valued at $28,000. Planned Solutions Inc. acquired a new stake in RTX in the 4th quarter valued at $30,000. Financial Gravity Asset Management Inc. increased its stake in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Citigroup lifted their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.27.

RTX Price Performance

Shares of NYSE:RTX traded up $0.81 during midday trading on Monday, hitting $102.22. The stock had a trading volume of 2,487,072 shares, compared to its average volume of 8,114,285. The company’s 50-day moving average price is $95.57 and its 200-day moving average price is $87.71. The company has a market capitalization of $135.90 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. As a group, equities research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 92.55%.

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.