Wealth Enhancement Advisory Services LLC Sells 4,176 Shares of RTX Co. (NYSE:RTX)

Wealth Enhancement Advisory Services LLC cut its stake in RTX Co. (NYSE:RTX) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 659,595 shares of the company’s stock after selling 4,176 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in RTX were worth $79,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in RTX in the second quarter worth $30,837,000. Capital Advisors Ltd. LLC lifted its position in RTX by 7.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after acquiring an additional 166 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares in the last quarter. Cetera Investment Advisers grew its holdings in RTX by 174.0% in the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after purchasing an additional 232,103 shares during the period. Finally, Susquehanna International Securities Ltd. bought a new position in shares of RTX during the second quarter valued at approximately $602,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Citigroup raised their price target on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley raised their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Susquehanna upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $168.56.

RTX Stock Performance

RTX traded down $0.01 during trading on Friday, hitting $125.16. The company’s stock had a trading volume of 4,716,205 shares, compared to its average volume of 6,752,277. The business’s 50 day simple moving average is $121.74 and its 200-day simple moving average is $111.28. The firm has a market cap of $166.40 billion, a PE ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $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 145,856 shares of company stock valued at $17,131,253 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

RTX 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.