DRW Securities LLC Trims Stake in RTX Co. (NYSE:RTX)

DRW Securities LLC decreased its holdings in RTX Co. (NYSE:RTX) by 29.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,831 shares of the company’s stock after selling 3,261 shares during the quarter. DRW Securities LLC’s holdings in RTX were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new position in shares of RTX during the 3rd quarter worth approximately $321,000. Continuum Advisory LLC boosted its stake in RTX by 23.8% in the third quarter. Continuum Advisory LLC now owns 1,698 shares of the company’s stock valued at $202,000 after acquiring an additional 326 shares in the last quarter. Executive Wealth Management LLC acquired a new stake in shares of RTX during the third quarter worth about $371,000. MidWestOne Financial Group Inc. raised its holdings in RTX by 43.4% during the third quarter. MidWestOne Financial Group Inc. now owns 10,067 shares of the company’s stock worth $1,220,000 after purchasing an additional 3,047 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in RTX by 5.6% in the third quarter. Coldstream Capital Management Inc. now owns 29,015 shares of the company’s stock valued at $3,519,000 after buying an additional 1,531 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RTX. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.07.

RTX Price Performance

Shares of NYSE:RTX opened at $128.44 on Thursday. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The business has a fifty day moving average price of $128.62 and a 200-day moving average price of $123.49. The company has a market capitalization of $171.48 billion, a PE ratio of 36.18, a PEG ratio of 2.11 and a beta of 0.58. 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 (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. The trade was a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last ninety days. Company insiders own 0.15% 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.