Congress Wealth Management LLC DE Sells 30,716 Shares of RTX Co. (NYSE:RTX)

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

Several other large investors also recently made changes to their positions in RTX. Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC boosted its position in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of RTX by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after acquiring an additional 151,474 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of RTX by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after acquiring an additional 549,814 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Up 0.9 %

NYSE RTX opened at $135.84 on Wednesday. RTX Co. has a one year low of $95.58 and a one year high of $135.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap 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 stock’s 50-day moving average is $127.81 and its 200-day moving average is $122.79.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 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%. Sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America boosted 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. JPMorgan Chase & Co. boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

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.