Xcel Wealth Management LLC Sells 515 Shares of RTX Co. (NYSE:RTX)

Xcel Wealth Management LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,030 shares of the company’s stock after selling 515 shares during the period. Xcel Wealth Management LLC’s holdings in RTX were worth $2,665,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new stake in RTX during the 4th quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the 4th quarter worth about $40,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the 3rd quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew its holdings 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 period. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

RTX stock opened at $133.02 on Friday. The company has a market capitalization of $177.19 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. 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 Co. has a 52-week low of $88.95 and a 52-week high of $133.09. The business has a 50-day simple moving average of $122.72 and a two-hundred day simple moving average of $121.35.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced 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. 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 currently 70.99%.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Wells Fargo & Company increased their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,334 shares of company stock valued at $4,639,194 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.