Bahl & Gaynor Inc. Decreases Stock Position in RTX Co. (NYSE:RTX)

Bahl & Gaynor Inc. decreased its stake in RTX Co. (NYSE:RTX) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,561 shares of the company’s stock after selling 13,033 shares during the quarter. Bahl & Gaynor Inc.’s holdings in RTX were worth $90,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. GR Financial Group LLC grew its position in shares of RTX by 1.7% during the 4th quarter. GR Financial Group LLC now owns 12,388 shares of the company’s stock worth $1,434,000 after buying an additional 212 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of RTX by 7.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 181,418 shares of the company’s stock valued at $20,994,000 after buying an additional 11,849 shares during the period. Unified Investment Management acquired a new position in shares of RTX in the 4th quarter worth approximately $324,000. Finally, Schechter Investment Advisors LLC increased its stake in RTX by 24.5% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,911 shares of the company’s stock worth $916,000 after buying an additional 1,555 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX 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 completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.5 %

Shares of NYSE:RTX opened at $133.68 on Tuesday. RTX Co. has a 52 week low of $89.14 and a 52 week high of $135.36. 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 company has a market cap of $178.08 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The firm has a 50 day simple moving average of $123.06 and a 200 day simple moving average of $121.52.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio is presently 70.99%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RTX. Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

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.