RTX Co. (NYSE:RTX) Position Reduced by SVB Wealth LLC

SVB Wealth LLC reduced its stake in RTX Co. (NYSE:RTX - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,497 shares of the company's stock after selling 12,198 shares during the quarter. SVB Wealth LLC's holdings in RTX were worth $3,828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in RTX during the fourth quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the 3rd quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of RTX during the 1st quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new position in RTX in the fourth quarter worth approximately $30,000. Finally, Financial Gravity Asset Management Inc. increased its stake in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company's stock worth $32,000 after acquiring an additional 345 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the subject of a number of research analyst reports. Bank of America upgraded RTX from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Barclays boosted their price target on shares of RTX from $75.00 to $90.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 30th. Royal Bank of Canada increased their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a "sector perform" rating in a research report on Monday, January 22nd. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded RTX from a "c" rating to a "b-" rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Hold" and an average target price of $94.44.

RTX Stock Down 0.1 %

RTX stock traded down $0.09 during mid-day trading on Wednesday, reaching $100.75. The company had a trading volume of 5,073,728 shares, compared to its average volume of 8,295,915. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a market capitalization of $133.96 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a fifty day simple moving average of $94.13 and a 200 day simple moving average of $86.13.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX's dividend payout ratio is presently 105.36%.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company's stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company's stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 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.