NewEdge Wealth LLC Sells 2,938 Shares of RTX Co. (NYSE:RTX)

NewEdge Wealth LLC trimmed its position in RTX Co. (NYSE:RTX) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,654 shares of the company’s stock after selling 2,938 shares during the quarter. NewEdge Wealth LLC’s holdings in RTX were worth $3,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. New England Professional Planning Group Inc. raised its holdings in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares during the period. Pointe Capital Management LLC raised its holdings 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 during the period. Avestar Capital LLC raised its holdings in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares during the period. Arbor Wealth Advisors LLC raised its holdings in shares of RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after purchasing an additional 85 shares during the period. Finally, Moloney Securities Asset Management LLC raised its holdings in RTX by 0.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after acquiring an additional 85 shares during the period. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on 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 owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,334 shares of company stock worth $4,639,194. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $133.02 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $177.19 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82. The firm’s 50 day simple moving average is $122.72 and its 200 day simple moving average is $121.35. RTX Co. has a 1 year low of $88.95 and a 1 year high of $133.09.

RTX (NYSE:RTX) last posted its quarterly earnings results 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%. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RTX shares. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Bank of America increased their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their price target 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average 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.