SVB Wealth LLC Trims Stock Holdings in RTX Co. (NYSE:RTX)

SVB Wealth LLC decreased its position in RTX Co. (NYSE:RTX) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,338 shares of the company’s stock after selling 2,159 shares during the period. SVB Wealth LLC’s holdings in RTX were worth $4,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. acquired a new stake in RTX during the 4th quarter worth about $25,000. Planned Solutions Inc. acquired a new stake in RTX during the 4th quarter worth about $30,000. Tennessee Valley Asset Management Partners acquired a new stake in RTX during the 4th quarter worth about $38,000. Fairman Group LLC acquired a new stake in RTX during the 4th quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC grew its position in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.4 %

RTX stock traded up $0.49 during trading on Monday, hitting $114.44. The company had a trading volume of 4,127,528 shares, compared to its average volume of 7,431,174. RTX Co. has a 1-year low of $68.56 and a 1-year high of $115.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company’s 50 day simple moving average is $104.47 and its 200-day simple moving average is $98.39. The stock has a market cap of $152.15 billion, a price-to-earnings ratio of 44.86, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, analysts expect that RTX Co. will post 5.42 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.20%. RTX’s dividend payout ratio is presently 98.82%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTX. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Melius Research lifted their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday. Finally, TD Cowen lifted their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $148.59.

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.