Midland Wealth Advisors LLC Has $1.41 Million Holdings in RTX Co. (NYSE:RTX)

Midland Wealth Advisors LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,157 shares of the company’s stock after selling 1,021 shares during the quarter. Midland Wealth Advisors LLC’s holdings in RTX were worth $1,407,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in RTX in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX during the 4th quarter valued at $40,000. Iron Horse Wealth Management LLC increased its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. raised its holdings in shares of RTX by 43.3% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 414 shares of the company’s stock worth $48,000 after acquiring an additional 125 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RTX. JPMorgan Chase & Co. boosted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 0.3 %

Shares of RTX stock opened at $128.63 on Monday. RTX Co. has a 12 month low of $89.44 and a 12 month high of $135.36. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $171.35 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The stock has a 50 day moving average of $124.02 and a 200-day moving average of $121.83.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. RTX’s dividend payout ratio is 70.99%.

Insider Buying and Selling at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.