RTX Co. (NYSE:RTX) Stake Cut by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. reduced its holdings in RTX Co. (NYSE:RTX) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,705 shares of the company’s stock after selling 1,302 shares during the period. Institute for Wealth Management LLC.’s holdings in RTX were worth $1,321,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bear Mountain Capital Inc. acquired a new position in RTX in the 4th quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new position in RTX in the 3rd quarter worth about $28,000. Quarry LP acquired a new position in RTX in the 1st quarter worth about $28,000. Planned Solutions Inc. acquired a new position in RTX in the 4th quarter worth about $30,000. Finally, Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of several research reports. Barclays upped their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Bank of America raised RTX from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.44.

RTX Price Performance

Shares of RTX stock opened at $101.57 on Friday. The stock has a 50 day moving average of $94.55 and a two-hundred day moving average of $86.44. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.32. The company has a market capitalization of $135.05 billion, a P/E ratio of 45.34, a P/E/G ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the company earned $1.27 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

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.