SVB Wealth LLC Cuts Position in RTX Co. (NYSE:RTX)

SVB Wealth LLC decreased its holdings in RTX Co. (NYSE:RTX) by 21.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 45,497 shares of the company’s stock after selling 12,198 shares during the period. SVB Wealth LLC’s holdings in RTX were worth $3,828,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hamilton Point Investment Advisors LLC raised its stake in shares of RTX by 1.2% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 122,572 shares of the company’s stock valued at $10,313,000 after purchasing an additional 1,512 shares during the period. LifePlan Financial LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $442,000. Capital Analysts LLC raised its stake in shares of RTX by 1.4% during the fourth quarter. Capital Analysts LLC now owns 120,076 shares of the company’s stock valued at $10,103,000 after purchasing an additional 1,669 shares during the period. Aurora Private Wealth Inc. purchased a new stake in shares of RTX during the fourth quarter valued at approximately $216,000. Finally, Sentry Investment Management LLC raised its stake in shares of RTX by 54.7% during the fourth quarter. Sentry Investment Management LLC now owns 13,075 shares of the company’s stock valued at $1,100,000 after purchasing an additional 4,623 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $100.83 on Wednesday. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91. The company has a market cap of $134.07 billion, a price-to-earnings ratio of 45.01, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a fifty day moving average of $93.96 and a 200-day moving average of $86.03.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Barclays lifted their price target on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $94.44.

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.