TriaGen Wealth Management LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

TriaGen Wealth Management LLC lowered its stake in RTX Co. (NYSE:RTX) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,771 shares of the company’s stock after selling 489 shares during the period. TriaGen Wealth Management LLC’s holdings in RTX were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Briaud Financial Planning Inc grew its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter worth $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX in the second quarter valued at $41,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of RTX in the first quarter valued at $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Citigroup upped their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.50.

RTX Trading Up 0.1 %

Shares of RTX traded up $0.17 during trading hours on Friday, reaching $125.92. The stock had a trading volume of 4,356,338 shares, compared to its average volume of 6,796,400. The company has a market cap of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $72.48 and a 52 week high of $127.00. The firm has a 50-day moving average of $120.91 and a 200 day moving average of $110.38.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company 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 company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. On average, sell-side analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. RTX’s dividend payout ratio is presently 98.82%.

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.