Avantax Advisory Services Inc. Sells 6,479 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Avantax Advisory Services Inc. reduced its stake in RTX Corporation by 3.8%, selling 6,479 shares and bringing its total holdings to 164,596 shares, valued at approximately $21.8 million.
• Multiple institutional investors increased their positions in RTX during the fourth quarter, with T. Rowe Price boosting its holdings by 43.1%, now owning over 10.5 million shares.
• RTX recently declared a quarterly dividend of $0.68 per share, which will be paid on September 4th, reflecting an annualized yield of 1.73%.

Avantax Advisory Services Inc. decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,596 shares of the company's stock after selling 6,479 shares during the period. Avantax Advisory Services Inc.'s holdings in RTX were worth $21,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC NC boosted its position in shares of RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. increased its stake in shares of RTX by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after purchasing an additional 82 shares during the last quarter. CLG LLC grew its stake in RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after buying an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC grew its stake in RTX by 3.3% in the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after buying an additional 84 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RTX shares. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a report on Friday, April 25th. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Finally, Bank of America upped their price target on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.88.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,530 shares of company stock worth $3,080,191 over the last quarter. Insiders own 0.15% of the company's stock.

RTX Trading Up 1.1%

Shares of RTX traded up $1.64 during trading hours on Friday, hitting $156.86. 4,727,235 shares of the stock were exchanged, compared to its average volume of 4,909,235. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $157.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business has a 50-day moving average of $143.48 and a 200-day moving average of $132.93. The firm has a market capitalization of $209.96 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. RTX's revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend payout ratio is currently 59.78%.

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.