RTX Co. (NYSE:RTX) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC cut its holdings in RTX Co. (NYSE:RTX) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,141 shares of the company’s stock after selling 297 shares during the period. Parallel Advisors LLC’s holdings in RTX were worth $4,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTX. Amundi raised its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of RTX by 545.6% during the fourth 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 in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of RTX during the fourth quarter worth about $216,340,000. Proficio Capital Partners LLC increased its position in shares of RTX by 19,052.5% during the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after purchasing an additional 1,037,792 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after purchasing an additional 993,273 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE:RTX opened at $131.86 on Tuesday. The business’s 50 day simple moving average is $125.69 and its 200-day simple moving average is $122.23. The firm has a market capitalization of $176.04 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $92.35 and a 12 month high of $135.36.

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

RTX Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTX. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley boosted their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.