Avion Wealth Cuts Stock Position in RTX Co. (NYSE:RTX)

Avion Wealth trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,498 shares of the company’s stock after selling 507 shares during the period. Avion Wealth’s holdings in RTX were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of RTX by 6.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock worth $65,278,000 after purchasing an additional 32,024 shares in the last quarter. Jmac Enterprises LLC lifted its position in RTX by 6.2% during the 4th quarter. Jmac Enterprises LLC now owns 5,146 shares of the company’s stock worth $595,000 after acquiring an additional 301 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of RTX during the fourth quarter valued at approximately $2,471,000. Gladstone Institutional Advisory LLC grew its holdings in RTX by 5.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 33,620 shares of the company’s stock valued at $3,890,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Certuity LLC increased its stake in RTX by 21.5% during the 4th quarter. Certuity LLC now owns 4,747 shares of the company’s stock worth $549,000 after buying an additional 839 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.6 %

RTX stock opened at $129.01 on Wednesday. The company has a market capitalization of $171.86 billion, a P/E ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The firm’s fifty day simple moving average is $120.40 and its 200-day simple moving average is $120.49. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.95%. RTX’s dividend payout ratio is 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Susquehanna increased their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. UBS Group upped their price objective on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.07.

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.