Avantax Advisory Services Inc. Reduces Stock Position in RTX Corporation (NYSE:RTX)

Avantax Advisory Services Inc. lessened its position in shares of RTX Corporation (NYSE:RTX) by 3.8% during the 1st quarter, Holdings Channel reports. The firm owned 164,596 shares of the company’s stock after selling 6,479 shares during the quarter. Avantax Advisory Services Inc.’s holdings in RTX were worth $21,802,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in 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 during the last quarter. Franklin Resources Inc. grew its stake in 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 during the last quarter. Northern Trust Corp grew its stake in RTX by 8.4% during the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,530 shares of company stock valued at $3,080,191. 0.15% of the stock is currently owned by insiders.

RTX Price Performance

Shares of RTX stock opened at $156.86 on Friday. The business has a 50 day simple moving average of $143.48 and a two-hundred day simple moving average of $132.81. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $157.33. The stock has a market capitalization of $209.96 billion, a P/E ratio of 34.47, a PEG ratio of 2.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX’s dividend payout ratio is presently 59.78%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RTX shares. Jefferies Financial Group restated a “hold” rating on shares of RTX in a research note on Monday. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Sanford C. Bernstein set a $154.00 target price on RTX and gave the stock a “market perform” rating in a research note on Friday, July 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.88.

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.