1900 Wealth Management LLC Cuts Stake in RTX Co. (NYSE:RTX)

1900 Wealth Management LLC lessened its holdings in shares of RTX Co. (NYSE:RTX) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,422 shares of the company’s stock after selling 240 shares during the period. 1900 Wealth Management LLC’s holdings in RTX were worth $288,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Douglas Lane & Associates LLC lifted its holdings in shares of RTX by 4.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 5,987 shares of the company’s stock worth $431,000 after acquiring an additional 269 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in RTX by 17.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 21,938 shares of the company’s stock worth $1,579,000 after buying an additional 3,181 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in RTX by 375.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 520,438 shares of the company’s stock worth $37,461,000 after buying an additional 410,980 shares in the last quarter. Park Place Capital Corp lifted its holdings in RTX by 47.2% during the 3rd quarter. Park Place Capital Corp now owns 12,684 shares of the company’s stock worth $913,000 after buying an additional 4,070 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its holdings in RTX by 12.1% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 4,221 shares of the company’s stock worth $304,000 after buying an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Royal Bank of Canada raised their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Cowen raised their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Barclays raised their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.40.

RTX Stock Up 0.3 %

Shares of RTX stock traded up $0.34 on Tuesday, hitting $101.90. The stock had a trading volume of 4,511,006 shares, compared to its average volume of 8,209,572. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a market capitalization of $135.49 billion, a price-to-earnings ratio of 45.35, a P/E/G ratio of 1.85 and a beta of 0.88. The stock’s 50 day moving average is $94.76 and its 200-day moving average is $86.89.

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

RTX Announces Dividend

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

Insider Buying and Selling at RTX

In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were 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 in the company, valued at $614,711.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Company insiders own 0.13% of the company’s stock.

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.