Sheets Smith Wealth Management Has $439,000 Stock Holdings in RTX Co. (NYSE:RTX)

Sheets Smith Wealth Management cut its stake in RTX Co. (NYSE:RTX) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,214 shares of the company’s stock after selling 134 shares during the quarter. Sheets Smith Wealth Management’s holdings in RTX were worth $439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its stake in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after purchasing an additional 593,305 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,842 shares of company stock valued at $13,603,426. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RTX. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. UBS Group lifted their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Performance

Shares of RTX stock opened at $101.72 on Tuesday. The company has a fifty day moving average price of $96.94 and a two-hundred day moving average price of $88.89. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The stock has a market cap of $135.24 billion, a P/E ratio of 39.96, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.48%. RTX’s dividend payout ratio (DPR) is presently 92.55%.

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.