Pinnacle Wealth Planning Services Inc. Lowers Position in RTX Co. (NYSE:RTX)

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 25.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,385 shares of the company's stock after selling 2,221 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in RTX were worth $739,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RTX. 10Elms LLP purchased a new stake in RTX in the fourth quarter worth about $29,000. Fairway Wealth LLC purchased a new stake in RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC bought a new position in RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX in the fourth quarter worth about $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 1.0%

Shares of RTX traded down $1.33 during mid-day trading on Wednesday, hitting $132.86. 5,422,720 shares of the company traded hands, compared to its average volume of 5,396,943. RTX Co. has a 1-year low of $99.07 and a 1-year high of $138.82. The business has a 50 day moving average of $129.08 and a 200 day moving average of $124.95. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $177.49 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is 79.77%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,643 shares of company stock worth $6,198,889. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on RTX shares. Citigroup reduced their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Wells Fargo & Company boosted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada reduced their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $159.82.

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.