Kanawha Capital Management LLC Has $19.72 Million Position in RTX Co. (NYSE:RTX)

Kanawha Capital Management LLC lifted its holdings in RTX Co. (NYSE:RTX) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,442 shares of the company’s stock after buying an additional 2,661 shares during the quarter. RTX comprises 1.5% of Kanawha Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Kanawha Capital Management LLC’s holdings in RTX were worth $19,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Avestar Capital LLC lifted its position in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC lifted its holdings in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after buying an additional 85 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in RTX by 0.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after buying an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after buying an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC raised its position in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

RTX Trading Down 0.7 %

RTX opened at $125.95 on Friday. The firm’s fifty day simple moving average is $120.70 and its 200 day simple moving average is $120.57. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The stock has a market capitalization of $167.78 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.17 and a beta of 0.82. 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 released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

About RTX

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.