Weik Capital Management Sells 340 Shares of RTX Co. (NYSE:RTX)

Weik Capital Management lessened its holdings in RTX Co. (NYSE:RTX) by 15.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,883 shares of the company’s stock after selling 340 shares during the period. Weik Capital Management’s holdings in RTX were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RTX. Norges Bank purchased a new stake in shares of RTX during the 4th quarter worth approximately $1,745,644,000. Caisse Des Depots ET Consignations purchased a new stake in shares of RTX during the 4th quarter valued at about $8,189,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of RTX by 0.9% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,952 shares of the company’s stock valued at $2,656,000 after acquiring an additional 198 shares during the last quarter. LM Advisors LLC increased its stake in RTX by 8.3% during the fourth quarter. LM Advisors LLC now owns 3,052 shares of the company’s stock worth $353,000 after acquiring an additional 233 shares during the last quarter. Finally, Howe & Rusling Inc. raised its position in RTX by 2.6% during the fourth quarter. Howe & Rusling Inc. now owns 25,835 shares of the company’s stock valued at $2,990,000 after purchasing an additional 643 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s 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 sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Wells Fargo & Company raised 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. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Performance

RTX opened at $133.43 on Friday. The business’s 50 day moving average is $128.38 and its 200-day moving average is $122.94. 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 stock has a market cap of $178.14 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a twelve month low of $97.03 and a twelve month high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results 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%. On average, analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

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.