Independent Advisor Alliance Sells 351 Shares of RTX Co. (NYSE:RTX)

Independent Advisor Alliance trimmed its position in RTX Co. (NYSE:RTX) by 0.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 49,565 shares of the company’s stock after selling 351 shares during the quarter. Independent Advisor Alliance’s holdings in RTX were worth $5,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. Ashton Thomas Securities LLC acquired a new position in RTX during the 3rd quarter valued at about $138,000. Venturi Wealth Management LLC increased its holdings in shares of RTX by 6.9% during the third quarter. Venturi Wealth Management LLC now owns 2,225 shares of the company’s stock valued at $270,000 after acquiring an additional 143 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of RTX by 31.4% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 8,112 shares of the company’s stock valued at $983,000 after purchasing an additional 1,937 shares during the last quarter. Fountainhead AM LLC acquired a new stake in RTX in the 3rd quarter worth approximately $208,000. Finally, Keystone Financial Services grew its position in RTX by 6.9% during the 3rd quarter. Keystone Financial Services now owns 3,599 shares of the company’s stock worth $436,000 after purchasing an additional 232 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 0.3 %

RTX opened at $128.16 on Wednesday. The company has a fifty day moving average of $124.54 and a two-hundred day moving average of $121.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $89.44 and a fifty-two week high of $135.36. The stock has a market capitalization of $170.73 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.11 and a beta of 0.78.

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%. On average, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RTX shares. Citigroup raised 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. Royal Bank of Canada raised 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. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Company 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.