Kovack Advisors Inc. Sells 369 Shares of RTX Co. (NYSE:RTX)

Kovack Advisors Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,899 shares of the company’s stock after selling 369 shares during the period. Kovack Advisors Inc.’s holdings in RTX were worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Geode Capital Management LLC increased its position in RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after purchasing an additional 508,344 shares during the last quarter. Fisher Asset Management LLC increased its position in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Bank of New York Mellon Corp increased its position in RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after purchasing an additional 549,814 shares during the last quarter. FMR LLC boosted its stake in RTX by 8.7% during the third quarter. FMR LLC now owns 6,102,848 shares of the company’s stock worth $739,421,000 after buying an additional 490,109 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in RTX by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock worth $713,222,000 after buying an additional 140,697 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock opened at $127.30 on Thursday. The company has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a PEG ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business has a 50-day moving average price of $122.09 and a 200 day moving average price of $121.17. RTX Co. has a 1-year low of $88.95 and a 1-year high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate 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 forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

Several research analysts have commented on RTX shares. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $142.00 to $147.00 in a research note on Monday. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

About RTX

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.