RTX Co. (NYSE:RTX) Stock Position Cut by CreativeOne Wealth LLC

CreativeOne Wealth LLC lessened its stake in RTX Co. (NYSE:RTX) by 40.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,782 shares of the company’s stock after selling 4,623 shares during the period. CreativeOne Wealth LLC’s holdings in RTX were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. Bear Mountain Capital Inc. purchased a new stake in RTX during the fourth quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its stake in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Valley National Advisers Inc. lifted its stake in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new stake in RTX during the third quarter valued at about $37,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. Barclays increased their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Wells Fargo & Company increased their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Stock Down 0.1 %

Shares of NYSE RTX opened at $106.25 on Thursday. The stock has a market cap of $141.26 billion, a PE ratio of 41.69, a PEG ratio of 1.85 and a beta of 0.84. The business has a fifty day moving average of $100.50 and a two-hundred day moving average of $91.02. RTX Co. has a 52-week low of $68.56 and a 52-week high of $107.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

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

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.37%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In related news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 120,042 shares of company stock worth $12,266,459 over the last three months. 0.13% of the stock is currently owned by company 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.