Sentry Investment Management LLC Reduces Stake in RTX Co. (NYSE:RTX)

Sentry Investment Management LLC lowered its position in RTX Co. (NYSE:RTX) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,294 shares of the company’s stock after selling 862 shares during the period. Sentry Investment Management LLC’s holdings in RTX were worth $613,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the period. Avestar Capital LLC grew its holdings in shares of RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC increased its stake in RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after buying an additional 85 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in RTX by 0.7% during the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after buying an additional 85 shares in the last quarter. Finally, Traveka Wealth LLC boosted its position in RTX by 3.2% in the 4th quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock valued at $323,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Price Performance

NYSE RTX opened at $125.33 on Tuesday. RTX Co. has a 12-month low of $88.95 and a 12-month high of $132.43. The firm’s fifty day simple moving average is $121.64 and its two-hundred day simple moving average is $121.05. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $166.95 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

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.