Kestra Investment Management LLC Sells 3,350 Shares of RTX Co. (NYSE:RTX)

Kestra Investment Management LLC lessened its stake in RTX Co. (NYSE:RTX) by 27.7% in the fourth quarter, HoldingsChannel reports. The firm owned 8,747 shares of the company’s stock after selling 3,350 shares during the period. Kestra Investment Management LLC’s holdings in RTX were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CX Institutional grew its position in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after purchasing an additional 11,706 shares during the period. LRI Investments LLC grew its position in RTX by 6.5% in the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares during the period. Napa Wealth Management bought a new stake in RTX in the 3rd quarter worth approximately $1,307,000. Czech National Bank grew its position in RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares during the period. Finally, Archer Investment Corp grew its position in RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RTX. Barclays lifted their price target on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

RTX stock opened at $123.52 on Wednesday. The company’s 50-day moving average price is $121.03 and its 200-day moving average price is $120.77. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. 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 company has a market cap of $164.54 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is 70.99%.

RTX Company 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.