Eldridge Investment Advisors Inc. Trims Stock Holdings in RTX Co. (NYSE:RTX)

Eldridge Investment Advisors Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,829 shares of the company’s stock after selling 117 shares during the period. Eldridge Investment Advisors Inc.’s holdings in RTX were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jacobsen Capital Management lifted its position in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC boosted its stake in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after purchasing an additional 118 shares during the period. Valley National Advisers Inc. grew its holdings in RTX by 37.4% during 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 in the last quarter. Dempze Nancy E raised its position in shares of RTX by 0.5% during the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after buying an additional 130 shares during the last quarter. Finally, Chicago Capital LLC lifted its holdings in shares of RTX by 0.8% in the fourth quarter. Chicago Capital LLC now owns 15,810 shares of the company’s stock worth $1,330,000 after buying an additional 130 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Bank of America increased their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $96.93.

RTX Stock Down 0.5 %

Shares of RTX stock traded down $0.50 during mid-day trading on Friday, hitting $101.39. 13,324,712 shares of the stock traded hands, compared to its average volume of 8,165,671. The stock’s fifty day moving average is $96.48 and its two-hundred day moving average is $88.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The stock has a market cap of $134.80 billion, a P/E ratio of 39.96, a P/E/G ratio of 1.82 and a beta of 0.84.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company 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%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. Equities analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. RTX’s dividend payout ratio (DPR) is 92.55%.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of RTX 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 completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,842 shares of company stock valued at $13,603,426. 0.13% of the stock is currently owned by corporate insiders.

About RTX

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.