Trust Investment Advisors Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Trust Investment Advisors cut its stake in shares of RTX Co. (NYSE:RTX) by 17.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,518 shares of the company’s stock after selling 2,921 shares during the period. Trust Investment Advisors’ holdings in RTX were worth $1,564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RTX. Murphy & Mullick Capital Management Corp purchased a new position in RTX during the fourth quarter worth about $216,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of RTX by 5.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 678,630 shares of the company’s stock worth $78,531,000 after buying an additional 37,329 shares in the last quarter. Florida Financial Advisors LLC boosted its stake in shares of RTX by 31.3% in the 4th quarter. Florida Financial Advisors LLC now owns 2,379 shares of the company’s stock worth $275,000 after buying an additional 567 shares during the last quarter. Potentia Wealth bought a new position in shares of RTX in the fourth quarter valued at approximately $976,000. Finally, Ariadne Wealth Management LP lifted its holdings in RTX by 4.0% during the fourth quarter. Ariadne Wealth Management LP now owns 2,271 shares of the company’s stock worth $291,000 after acquiring an additional 87 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on RTX shares. Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price target 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. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred 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. This represents a 35.27 % decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction 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. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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 %

Shares of RTX stock opened at $135.84 on Wednesday. The company has a market capitalization of $181.36 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 52-week low of $95.58 and a 52-week high of $135.94. The business’s fifty day moving average is $127.81 and its 200 day moving average is $122.79. 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 (NYSE:RTX) last issued 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%. On average, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 dividend yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

RTX 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.