Novare Capital Management LLC Sells 3,947 Shares of RTX Co. (NYSE:RTX)

Novare Capital Management LLC lessened its holdings in RTX Co. (NYSE:RTX) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,199 shares of the company’s stock after selling 3,947 shares during the quarter. RTX accounts for approximately 1.1% of Novare Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Novare Capital Management LLC’s holdings in RTX were worth $12,988,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its position in RTX by 2.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 9,310 shares of the company’s stock worth $833,000 after purchasing an additional 202 shares during the period. Syon Capital LLC lifted its position in RTX by 49.9% during the fourth quarter. Syon Capital LLC now owns 9,224 shares of the company’s stock worth $776,000 after purchasing an additional 3,072 shares during the period. Creekmur Asset Management LLC bought a new stake in RTX during the fourth quarter worth about $89,000. SageView Advisory Group LLC bought a new stake in RTX during the fourth quarter worth about $1,485,000. Finally, Sivia Capital Partners LLC bought a new stake in RTX during the fourth quarter worth about $247,000. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 0.3 %

NYSE:RTX traded up $0.39 on Monday, reaching $124.32. 406,491 shares of the stock traded hands, compared to its average volume of 6,837,796. The firm has a market capitalization of $165.28 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The company’s 50 day moving average is $119.86 and its 200-day moving average is $109.58. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 1-year low of $72.48 and a 1-year high of $125.93.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. Equities research analysts anticipate that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Susquehanna upped their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average price target of $162.50.

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.