Bryn Mawr Capital Management LLC Sells 1,085 Shares of RTX Co. (NYSE:RTX)

Bryn Mawr Capital Management LLC decreased its holdings in RTX Co. (NYSE:RTX) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,318 shares of the company’s stock after selling 1,085 shares during the period. RTX accounts for about 0.9% of Bryn Mawr Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Bryn Mawr Capital Management LLC’s holdings in RTX were worth $16,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Concord Wealth Partners boosted its stake in shares of RTX by 13.3% during the 3rd quarter. Concord Wealth Partners now owns 757 shares of the company’s stock worth $92,000 after purchasing an additional 89 shares during the period. Orrstown Financial Services Inc. raised its holdings in shares of RTX by 129.4% in the third quarter. Orrstown Financial Services Inc. now owns 10,965 shares of the company’s stock worth $1,329,000 after buying an additional 6,185 shares during the period. Pallas Capital Advisors LLC lifted its stake in shares of RTX by 30.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,104 shares of the company’s stock worth $639,000 after acquiring an additional 1,192 shares during the last quarter. abrdn plc boosted its holdings in RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after acquiring an additional 509,261 shares during the period. Finally, Traynor Capital Management Inc. bought a new position in RTX in the 3rd quarter valued at $245,000. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five research 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 company’s stock. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Trading Up 1.5 %

Shares of RTX stock opened at $127.30 on Wednesday. RTX Co. has a 12-month low of $88.95 and a 12-month high of $132.43. The firm’s 50 day simple moving average is $121.84 and its two-hundred day simple moving average is $121.13. 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 $169.58 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly 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%. Analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated 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 of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

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.