RTX Co. (NYSE:RTX) Stock Position Cut by Connecticut Wealth Management LLC

by · The Markets Daily

Connecticut Wealth Management LLC lessened its stake in RTX Co. (NYSE:RTX – Free Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,831 shares of the company’s stock after selling 2,167 shares during the period. RTX accounts for 1.1% of Connecticut Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Connecticut Wealth Management LLC’s holdings in RTX were worth $24,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after purchasing an additional 576,214 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Finally, Norges Bank bought a new position in shares of RTX during the 4th quarter valued at about $1,745,644,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,946 shares of company stock worth $9,024,856. Insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $134.93 on Thursday. The firm has a market cap of $180.25 billion, a PE ratio of 38.01, a PEG ratio of 2.11 and a beta of 0.60. The firm’s 50 day moving average price is $129.10 and its 200 day moving average price is $124.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a twelve month low of $99.07 and a twelve month high of $138.82.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 2.02%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Citigroup decreased their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $159.82.

Check Out Our Latest Research Report on RTX

About RTX

(Free Report)

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.

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