Alta Capital Management LLC Has $417,000 Stock Holdings in RTX Co. (NYSE:RTX)

Alta Capital Management LLC trimmed its position in RTX Co. (NYSE:RTX) by 29.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,606 shares of the company’s stock after selling 1,541 shares during the period. Alta Capital Management LLC’s holdings in RTX were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Fusion Capital LLC raised its position in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares during the period. New England Professional Planning Group Inc. raised its position in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares during the period. Pointe Capital Management LLC raised its position in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares during the period. Avestar Capital LLC raised its position in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after acquiring an additional 85 shares during the period. Finally, Arbor Wealth Advisors LLC raised its position in shares of RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after acquiring an additional 85 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

NYSE RTX opened at $133.68 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $89.14 and a 12-month high of $135.36. The company has a market capitalization of $178.08 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The firm’s 50 day moving average is $123.06 and its 200-day moving average is $121.52.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. Equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio is presently 70.99%.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction 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 transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RTX. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Finally, Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average 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.