Essex Financial Services Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Essex Financial Services Inc. reduced its holdings in RTX Co. (NYSE:RTX - Free Report) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,748 shares of the company's stock after selling 4,733 shares during the period. Essex Financial Services Inc.'s holdings in RTX were worth $9,508,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Briaud Financial Planning Inc boosted its holdings 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 buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the second quarter valued at $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX during the second quarter valued at $41,000. Finally, Stephens Consulting LLC lifted its holdings in RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company's stock valued at $45,000 after purchasing an additional 114 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 0.0 %

RTX stock traded down $0.01 during midday trading on Friday, hitting $125.16. 4,716,205 shares of the stock were exchanged, compared to its average volume of 6,752,277. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70. The stock has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82. The stock's 50-day simple moving average is $121.74 and its 200 day simple moving average is $111.42. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same period last year, the business earned $1.25 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that RTX Co. will post 5.5 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX's dividend payout ratio is presently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares of the company's stock, valued at approximately $1,402,773.84. This trade 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 the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company's stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,856 shares of company stock worth $17,131,253 over the last three months. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of RTX from $115.00 to $130.00 and gave the company a "sector perform" rating in a report on Wednesday. Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Morgan Stanley increased their price objective on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "sell" rating to a "hold" rating and increased their target price for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, ten have issued 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, RTX presently has an average rating of "Hold" and a consensus price target of $168.56.

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.