Bessemer Group Inc. Sells 2,906 Shares of RTX Co. (NYSE:RTX)

Bessemer Group Inc. reduced its stake in RTX Co. (NYSE:RTX - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,860 shares of the company's stock after selling 2,906 shares during the quarter. Bessemer Group Inc.'s holdings in RTX were worth $4,960,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Texas Yale Capital Corp. lifted its position in shares of RTX by 1.9% during the 4th quarter. Texas Yale Capital Corp. now owns 11,214 shares of the company's stock valued at $1,298,000 after buying an additional 205 shares during the last quarter. Martingale Asset Management L P lifted its holdings in RTX by 97.6% during the fourth quarter. Martingale Asset Management L P now owns 188,168 shares of the company's stock valued at $21,775,000 after purchasing an additional 92,939 shares during the last quarter. Tandem Investment Partners LLC bought a new position in RTX during the fourth quarter worth about $285,000. German American Bancorp Inc. increased its stake in shares of RTX by 1.9% in the fourth quarter. German American Bancorp Inc. now owns 29,890 shares of the company's stock worth $3,459,000 after purchasing an additional 548 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in shares of RTX by 198.1% in the fourth quarter. Bank of Nova Scotia now owns 1,147,094 shares of the company's stock valued at $132,742,000 after purchasing an additional 762,308 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.4 %

NYSE RTX traded down $0.55 during trading on Tuesday, hitting $128.59. 5,308,329 shares of the company's stock traded hands, compared to its average volume of 5,502,511. The firm has a market cap of $171.68 billion, a P/E ratio of 36.22, a PEG ratio of 2.11 and a beta of 0.58. The stock has a fifty day moving average of $128.56 and a two-hundred day moving average of $123.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17.

Remove Ads

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 yield of 1.96%. RTX's dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares of the company's stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RTX. StockNews.com cut RTX from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $165.27.

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.