WealthTrust Asset Management LLC Reduces Holdings in RTX Co. (NYSE:RTX)

WealthTrust Asset Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,525 shares of the company’s stock after selling 136 shares during the period. WealthTrust Asset Management LLC’s holdings in RTX were worth $755,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. GWN Securities Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $1,128,000. Harbour Investments Inc. increased its stake in shares of RTX by 1.7% during the 4th quarter. Harbour Investments Inc. now owns 19,965 shares of the company’s stock worth $2,310,000 after purchasing an additional 342 shares in the last quarter. Tumwater Wealth Management LLC purchased a new position in shares of RTX during the 4th quarter worth approximately $580,000. Envestnet Portfolio Solutions Inc. boosted its position in RTX by 0.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 81,470 shares of the company’s stock worth $9,428,000 after acquiring an additional 664 shares during the last quarter. Finally, one8zero8 LLC purchased a new stake in RTX in the 4th quarter worth approximately $3,891,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the subject of several recent analyst reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Bank of America lifted their target price 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. Morgan Stanley lifted their target price 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. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Five 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 MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX Stock Up 0.6 %

Shares of RTX stock opened at $130.00 on Friday. The company has a fifty day moving average price of $125.33 and a 200 day moving average price of $122.16. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $92.35 and a twelve month high of $135.36. The stock has a market cap of $173.56 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly 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%. Equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.94%. RTX’s dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.13% of the stock is owned by corporate insiders.

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.