Concurrent Investment Advisors LLC Sells 492 Shares of RTX Co. (NYSE:RTX)

Concurrent Investment Advisors LLC lessened its holdings in RTX Co. (NYSE:RTX) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,760 shares of the company’s stock after selling 492 shares during the period. Concurrent Investment Advisors LLC’s holdings in RTX were worth $7,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avestar Capital LLC lifted its holdings in RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares during the period. Arbor Wealth Advisors LLC lifted its holdings in RTX by 3.7% during the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after acquiring an additional 85 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in RTX by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after acquiring an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC lifted its holdings in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’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 completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

RTX Stock Performance

NYSE:RTX opened at $125.26 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The firm has a market cap of $166.87 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.09 and a beta of 0.82. The business’s fifty day moving average is $121.20 and its 200 day moving average is $120.80.

RTX (NYSE:RTX) last posted 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 return on equity of 12.45% and a net margin of 5.91%. Research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. JPMorgan Chase & Co. lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group lifted their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.