Apriem Advisors Lowers Position in RTX Co. (NYSE:RTX)

Apriem Advisors lessened its stake in RTX Co. (NYSE:RTX) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,127 shares of the company’s stock after selling 2,417 shares during the quarter. Apriem Advisors’ holdings in RTX were worth $709,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RTX. New England Professional Planning Group Inc. boosted its holdings in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares during the last quarter. Pointe Capital Management LLC lifted its stake in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares in the last quarter. Avestar Capital LLC grew its holdings in shares of RTX by 0.6% during the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the period. Arbor Wealth Advisors LLC increased its position 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 purchasing an additional 85 shares in the last quarter. Finally, Moloney Securities Asset Management LLC raised its holdings in RTX by 0.7% in the fourth 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 period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $127.30 on Thursday. The company has a market cap of $169.58 billion, a PE ratio of 35.86, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 12 month low of $88.95 and a 12 month high of $132.43. The company has a fifty day moving average price of $122.09 and a two-hundred day moving average price of $121.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. 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. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the business’s 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RTX. Wells Fargo & Company boosted their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

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.