Brown Financial Advisors Trims Stake in RTX Co. (NYSE:RTX)

Brown Financial Advisors trimmed its stake in RTX Co. (NYSE:RTX) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,173 shares of the company’s stock after selling 138 shares during the quarter. Brown Financial Advisors’ holdings in RTX were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its stake in shares of RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the period. Jennison Associates LLC increased its stake in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares during the last quarter. Fisher Asset Management LLC lifted its position in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after buying an additional 852,183 shares during the period. Janus Henderson Group PLC boosted its stake in RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after buying an additional 702,699 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in RTX by 30.0% in the 4th quarter. Van ECK Associates Corp now owns 2,310,221 shares of the company’s stock valued at $267,339,000 after buying an additional 532,970 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RTX shares. Susquehanna increased their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Morgan Stanley increased their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Bank of America raised their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a report on Monday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $125.33 on Tuesday. The business’s 50-day simple moving average is $121.64 and its 200-day simple moving average is $121.05. 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 Co. has a 52 week low of $88.95 and a 52 week high of $132.43. The firm has a market cap of $166.95 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 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.