Western Wealth Management LLC Sells 451 Shares of RTX Co. (NYSE:RTX)

Western Wealth Management LLC lowered its position in RTX Co. (NYSE:RTX) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 14,034 shares of the company’s stock after selling 451 shares during the period. Western Wealth Management LLC’s holdings in RTX were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Obermeyer Wood Investment Counsel Lllp increased its stake in RTX by 2,221.1% in the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 258,846 shares of the company’s stock valued at $21,779,000 after acquiring an additional 247,694 shares during the last quarter. Xponance Inc. increased its stake in RTX by 5.7% in the fourth quarter. Xponance Inc. now owns 176,806 shares of the company’s stock valued at $14,876,000 after acquiring an additional 9,575 shares during the last quarter. Twin Capital Management Inc. bought a new position in RTX in the fourth quarter valued at $417,000. CapWealth Advisors LLC increased its stake in RTX by 34.1% in the fourth quarter. CapWealth Advisors LLC now owns 283,373 shares of the company’s stock valued at $23,843,000 after acquiring an additional 72,095 shares during the last quarter. Finally, HF Advisory Group LLC increased its stake in RTX by 6.7% in the fourth quarter. HF Advisory Group LLC now owns 15,665 shares of the company’s stock valued at $1,318,000 after acquiring an additional 990 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RTX. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and increased their target price for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. UBS Group raised their price objective on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Royal Bank of Canada raised their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, Barclays raised their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, RTX has an average rating of “Hold” and an average price target of $94.44.

RTX Stock Performance

Shares of RTX opened at $101.57 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $94.55 and its 200-day moving average price is $86.44. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.32. The stock has a market cap of $135.05 billion, a P/E ratio of 45.34, a P/E/G ratio of 1.83 and a beta of 0.88.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio is currently 105.36%.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 in the last three months. Insiders own 0.13% of the company’s stock.

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.