Three Bridge Wealth Advisors LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Three Bridge Wealth Advisors LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,403 shares of the company’s stock after selling 845 shares during the period. RTX comprises approximately 0.8% of Three Bridge Wealth Advisors LLC’s holdings, making the stock its 28th largest holding. Three Bridge Wealth Advisors LLC’s holdings in RTX were worth $2,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CX Institutional increased its stake in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after purchasing an additional 11,706 shares in the last quarter. LRI Investments LLC increased its position in RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares in the last quarter. Napa Wealth Management purchased a new position in RTX during the third quarter valued at $1,307,000. Czech National Bank grew its stake in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the last quarter. Finally, Archer Investment Corp increased its holdings in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after acquiring an additional 4,151 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RTX shares. Barclays increased their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Five 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 stock. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

RTX Trading Down 1.8 %

Shares of RTX stock opened at $126.82 on Thursday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company’s fifty day simple moving average is $120.55 and its 200-day simple moving average is $120.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $168.94 billion, a PE ratio of 35.72, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

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.