ORBA Wealth Advisors L.L.C. Sells 235 Shares of RTX Co. (NYSE:RTX)

ORBA Wealth Advisors L.L.C. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,535 shares of the company’s stock after selling 235 shares during the period. ORBA Wealth Advisors L.L.C.’s holdings in RTX were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Groupama Asset Managment purchased a new position in shares of RTX in the 4th quarter worth about $42,506,000. Fort Sheridan Advisors LLC raised its position in shares of RTX by 1.9% in the 4th quarter. Fort Sheridan Advisors LLC now owns 15,154 shares of the company’s stock worth $1,275,000 after purchasing an additional 287 shares during the last quarter. Financial Network Wealth Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth about $385,000. Pettyjohn Wood & White Inc. raised its position in RTX by 0.3% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 64,080 shares of the company’s stock worth $5,392,000 after buying an additional 175 shares during the last quarter. Finally, Burford Brothers Inc. purchased a new position in RTX in the 4th quarter worth about $949,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock traded up $0.32 during midday trading on Friday, hitting $123.26. The company’s stock had a trading volume of 418,889 shares, compared to its average volume of 6,859,240. RTX Co. has a 12 month low of $72.29 and a 12 month high of $125.93. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $163.97 billion, a price-to-earnings ratio of 71.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The company has a 50 day moving average of $119.71 and a two-hundred day moving average of $109.20.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. On average, analysts expect that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is 145.67%.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RTX. Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $162.50.

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.