Pegasus Asset Management Inc. Has $5.98 Million Stock Holdings in RTX Co. (NYSE:RTX)

Pegasus Asset Management Inc. lowered its stake in RTX Co. (NYSE:RTX) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,380 shares of the company’s stock after selling 281 shares during the quarter. RTX makes up approximately 2.3% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 17th largest position. Pegasus Asset Management Inc.’s holdings in RTX were worth $5,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the 2nd quarter worth $41,000. Finally, Stephens Consulting LLC lifted its holdings in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock traded down $0.85 during trading hours on Tuesday, reaching $125.05. The company had a trading volume of 3,126,758 shares, compared to its average volume of 6,768,475. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a one year low of $72.52 and a one year high of $128.66. The firm has a market cap of $166.25 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The business has a fifty day simple moving average of $121.09 and a 200 day simple moving average of $110.74.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.50.

Insider Activity

In other news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Company 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.