Delta Financial Advisors LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Delta Financial Advisors LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,668 shares of the company’s stock after selling 1,726 shares during the quarter. Delta Financial Advisors LLC’s holdings in RTX were worth $1,907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RTX. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of RTX by 94.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after acquiring an additional 156,550 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of RTX by 9.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock valued at $1,091,000 after acquiring an additional 931 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in shares of RTX by 1.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock valued at $1,066,000 after acquiring an additional 128 shares during the last quarter. AMI Investment Management Inc. lifted its stake in shares of RTX by 53.1% in the 1st quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after purchasing an additional 12,316 shares during the period. Finally, LSV Asset Management lifted its stake in shares of RTX by 1.4% in the 1st quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $0.68 on Thursday, hitting $101.43. 1,808,829 shares of the company traded hands, compared to its average volume of 8,208,045. The stock has a market capitalization of $134.87 billion, a P/E ratio of 44.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91. The business has a 50-day simple moving average of $94.13 and a 200 day simple moving average of $86.13.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. Research analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Analyst Ratings Changes

Several brokerages have recently weighed in on RTX. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. UBS Group increased their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two 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. According to data from MarketBeat, RTX has an average rating of “Hold” and an average target price of $94.44.

Insider Activity at RTX

In related news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by corporate insiders.

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.