RTX Co. (NYSE:RTX) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. cut its stake in RTX Co. (NYSE:RTX) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,705 shares of the company’s stock after selling 5,218 shares during the period. RTX accounts for 1.6% of Hendershot Investments Inc.’s portfolio, making the stock its 18th largest position. Hendershot Investments Inc.’s holdings in RTX were worth $12,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RTX. MidAtlantic Capital Management Inc. bought a new stake in RTX in the third quarter valued at about $29,000. Western Pacific Wealth Management LP acquired a new stake in shares of RTX during the 3rd quarter valued at approximately $41,000. Modus Advisors LLC acquired a new position in RTX in the fourth quarter worth $39,000. Iron Horse Wealth Management LLC increased its stake in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of RTX in the 3rd quarter worth about $50,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RTX shares. UBS Group increased their price objective on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $128.07 on Friday. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $119.99 and its 200 day moving average price is $120.07. The firm has a market cap of $170.60 billion, a P/E ratio of 36.08, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

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.