RTX Co. (NYSE:RTX) Stock Position Reduced by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lowered its stake in shares of RTX Co. (NYSE:RTX) by 37.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,322 shares of the company’s stock after selling 30,716 shares during the period. Congress Wealth Management LLC DE’s holdings in RTX were worth $5,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at approximately $39,000. Modus Advisors LLC bought a new stake in RTX in the fourth quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter worth $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RTX. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Up 0.9 %

Shares of RTX opened at $135.84 on Wednesday. RTX Co. has a 52 week low of $95.58 and a 52 week high of $135.94. The firm has a market capitalization of $181.36 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a 50-day simple moving average of $127.81 and a 200-day simple moving average of $122.79. 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 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%. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 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.