Detalus Advisors LLC Cuts Stake in RTX Co. (NYSE:RTX)

Detalus Advisors LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 2,583 shares of the company’s stock after selling 220 shares during the period. Detalus Advisors LLC’s holdings in RTX were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter worth about $29,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in RTX during the fourth quarter worth about $40,000. Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Price Performance

Shares of RTX opened at $133.02 on Monday. RTX Co. has a twelve month low of $88.95 and a twelve month high of $133.09. The firm’s fifty day simple moving average is $122.72 and its 200-day simple moving average is $121.41. The firm has a market capitalization of $177.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.11 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 issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,334 shares of company stock valued at $4,639,194. Insiders own 0.13% of the company’s stock.

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.