Wrapmanager Inc. Cuts Position in RTX Co. (NYSE:RTX)

Wrapmanager Inc. lowered its stake in shares of RTX Co. (NYSE:RTX) by 11.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,470 shares of the company’s stock after selling 311 shares during the period. Wrapmanager Inc.’s holdings in RTX were worth $286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co boosted its stake in shares of RTX by 19.6% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 20,814 shares of the company’s stock worth $2,409,000 after acquiring an additional 3,412 shares in the last quarter. Prasad Wealth Partners LLC acquired a new position in RTX during the fourth quarter worth $312,000. Crestwood Advisors Group LLC boosted its position in RTX by 0.7% during the fourth quarter. Crestwood Advisors Group LLC now owns 24,522 shares of the company’s stock worth $2,838,000 after purchasing an additional 170 shares in the last quarter. IFP Advisors Inc grew its holdings in RTX by 284.4% in the fourth quarter. IFP Advisors Inc now owns 47,023 shares of the company’s stock valued at $5,442,000 after purchasing an additional 34,789 shares during the last quarter. Finally, RPG Investment Advisory LLC increased its position in shares of RTX by 0.4% in the fourth quarter. RPG Investment Advisory LLC now owns 162,765 shares of the company’s stock valued at $18,835,000 after buying an additional 598 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Stock Performance

RTX stock opened at $127.30 on Wednesday. The stock has a fifty day moving average price of $121.84 and a 200 day moving average price of $121.13. RTX Co. has a 52 week low of $88.95 and a 52 week high of $132.43. The firm has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a PEG ratio of 2.11 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued 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 dividend yield of 1.98%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.