ELCO Management Co. LLC Cuts Stake in RTX Co. (NYSE:RTX)

ELCO Management Co. LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,651 shares of the company’s stock after selling 550 shares during the quarter. ELCO Management Co. LLC’s holdings in RTX were worth $1,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in RTX during the third quarter valued at $321,000. Nomura Asset Management Co. Ltd. lifted its position in RTX by 6.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 398,268 shares of the company’s stock valued at $48,254,000 after acquiring an additional 23,290 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of RTX by 23.8% during the third quarter. Continuum Advisory LLC now owns 1,698 shares of the company’s stock valued at $202,000 after acquiring an additional 326 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of RTX in the third quarter worth about $371,000. Finally, Resources Management Corp CT ADV lifted its holdings in shares of RTX by 3.9% in the 3rd quarter. Resources Management Corp CT ADV now owns 59,418 shares of the company’s stock valued at $7,199,000 after buying an additional 2,237 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $120.28 on Wednesday. The firm has a fifty day moving average of $128.65 and a two-hundred day moving average of $123.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $160.58 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RTX. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.07.

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.