Oppenheimer Asset Management Inc. cut its position in shares of RTX Co. (NYSE:RTX – Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 696,512 shares of the company’s stock after selling 33,397 shares during the quarter. RTX makes up about 1.0% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. Oppenheimer Asset Management Inc. owned 0.05% of RTX worth $80,600,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in RTX during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP bought a new position in RTX during the 3rd quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC grew its position in RTX by 296.8% during the 4th 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.
RTX Stock Down 0.0 %
RTX stock opened at $127.30 on Thursday. RTX Co. has a twelve month low of $88.95 and a twelve month high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $169.58 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business has a 50 day moving average of $122.09 and a 200 day moving average of $121.17.
RTX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.
Insiders Place Their Bets
In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction 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 sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction 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 completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on RTX shares. Wells Fargo & Company increased their price objective on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley increased their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $142.00 to $147.00 in a report on Monday. Five 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. Based on data from MarketBeat.com, the stock has a consensus 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.
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