Opal Wealth Advisors LLC Sells 112 Shares of RTX Co. (NYSE:RTX)

Opal Wealth Advisors LLC lessened its stake in RTX Co. (NYSE:RTX) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,709 shares of the company’s stock after selling 112 shares during the quarter. Opal Wealth Advisors LLC’s holdings in RTX were worth $449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors lifted its stake in RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its stake in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its holdings in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the period. Hsbc Holdings PLC increased its position in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on RTX shares. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna increased their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $162.50.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Performance

RTX opened at $124.92 on Wednesday. The firm has a market cap of $166.08 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The business’s fifty day moving average is $120.26 and its 200-day moving average is $109.96. RTX Co. has a 52-week low of $72.48 and a 52-week high of $126.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. Sell-side analysts expect that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

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.