RTX Co. (NYSE:RTX) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,844 shares of the company’s stock after selling 2,049 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,486,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX during the 3rd quarter worth approximately $29,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the 3rd quarter worth $41,000. Modus Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the fourth quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC raised its stake in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX opened at $129.01 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The firm has a 50-day simple moving average of $120.40 and a 200-day simple moving average of $120.49. The company has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RTX shares. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group upped their target price on shares of RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently 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.