Avion Wealth Sells 507 Shares of RTX Co. (NYSE:RTX)

Avion Wealth cut its position in RTX Co. (NYSE:RTX) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

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

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’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 value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays upped their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Performance

Shares of NYSE RTX opened at $129.01 on Wednesday. The stock has a market capitalization of $171.86 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The stock has a 50 day moving average price of $120.40 and a 200 day moving average price of $120.49. 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 (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

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.