Parallel Advisors LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Parallel Advisors LLC lessened its position in shares of RTX Co. (NYSE:RTX – Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,141 shares of the company’s stock after selling 297 shares during the quarter. Parallel Advisors LLC’s holdings in RTX were worth $4,067,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cibc World Markets Corp grew its stake in RTX by 79.7% during the 4th quarter. Cibc World Markets Corp now owns 324,426 shares of the company’s stock valued at $37,543,000 after purchasing an additional 143,914 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of RTX by 1.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 10,379 shares of the company’s stock worth $1,201,000 after buying an additional 123 shares during the last quarter. SlateStone Wealth LLC boosted its stake in shares of RTX by 0.9% in the fourth quarter. SlateStone Wealth LLC now owns 85,904 shares of the company’s stock worth $9,941,000 after buying an additional 782 shares during the last quarter. GWN Securities Inc. purchased a new stake in shares of RTX in the fourth quarter worth about $1,128,000. Finally, Harbour Investments Inc. boosted its stake in shares of RTX by 1.7% in the fourth quarter. Harbour Investments Inc. now owns 19,965 shares of the company’s stock worth $2,310,000 after buying an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on RTX shares. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

View Our Latest Research Report on RTX

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $131.86 on Tuesday. RTX Co. has a one year low of $92.35 and a one year high of $135.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market cap of $176.04 billion, a PE ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78. The stock has a 50 day moving average price of $125.69 and a 200 day moving average price of $122.23.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 yield of 1.91%. RTX’s payout ratio is 70.99%.

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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