Principle Wealth Partners LLC Sells 664 Shares of RTX Co. (NYSE:RTX)

Principle Wealth Partners LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,096 shares of the company’s stock after selling 664 shares during the quarter. RTX makes up approximately 1.0% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 25th largest position. Principle Wealth Partners LLC’s holdings in RTX were worth $14,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RTX. Geode Capital Management LLC lifted its holdings in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC raised its holdings in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after acquiring an additional 852,183 shares in the last quarter. FMR LLC lifted its stake in RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after acquiring an additional 490,109 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in RTX by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after acquiring an additional 140,697 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of RTX by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after purchasing an additional 25,407 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE:RTX opened at $128.11 on Tuesday. The stock has a market capitalization of $170.65 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 52 week low of $88.90 and a 52 week 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 stock’s 50-day moving average price is $120.18 and its 200-day moving average price is $120.38.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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.