SVB Wealth LLC Decreases Stake in RTX Co. (NYSE:RTX)

SVB Wealth LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,497 shares of the company’s stock after selling 12,198 shares during the period. SVB Wealth LLC’s holdings in RTX were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hamilton Point Investment Advisors LLC raised its position in RTX by 1.2% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 122,572 shares of the company’s stock valued at $10,313,000 after purchasing an additional 1,512 shares during the period. LifePlan Financial LLC purchased a new stake in RTX during the fourth quarter valued at approximately $442,000. Capital Analysts LLC raised its position in RTX by 1.4% during the fourth quarter. Capital Analysts LLC now owns 120,076 shares of the company’s stock valued at $10,103,000 after purchasing an additional 1,669 shares during the period. Aurora Private Wealth Inc. purchased a new stake in RTX during the fourth quarter valued at approximately $216,000. Finally, Sentry Investment Management LLC raised its position in RTX by 54.7% during the fourth quarter. Sentry Investment Management LLC now owns 13,075 shares of the company’s stock valued at $1,100,000 after purchasing an additional 4,623 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX opened at $100.83 on Wednesday. The stock has a 50-day moving average of $93.96 and a two-hundred day moving average of $86.03. RTX Co. has a one year low of $68.56 and a one year high of $104.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The stock has a market cap of $134.07 billion, a P/E ratio of 45.01, a P/E/G ratio of 1.82 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insider Activity

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. Royal Bank of Canada increased their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Barclays increased their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.44.

RTX Company 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.