Salomon & Ludwin LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Salomon & Ludwin LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,307 shares of the company’s stock after selling 361 shares during the period. Salomon & Ludwin LLC’s holdings in RTX were worth $267,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Roxbury Financial LLC purchased a new position in RTX during the fourth quarter worth approximately $1,021,000. Hickory Asset Management Inc. purchased a new position in shares of RTX in the 4th quarter valued at $214,000. Aveo Capital Partners LLC raised its stake in shares of RTX by 8.5% in the 4th quarter. Aveo Capital Partners LLC now owns 3,229 shares of the company’s stock valued at $374,000 after acquiring an additional 253 shares during the period. BXM Wealth LLC purchased a new position in shares of RTX in the 4th quarter valued at $600,000. Finally, WealthPLAN Partners LLC raised its stake in shares of RTX by 17.8% in the 4th quarter. WealthPLAN Partners LLC now owns 2,737 shares of the company’s stock valued at $317,000 after acquiring an additional 413 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Barclays raised their price target on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Down 2.5 %

Shares of NYSE:RTX opened at $122.68 on Friday. The company has a market cap of $163.42 billion, a PE ratio of 34.56, a P/E/G ratio of 2.17 and a beta of 0.82. The company’s 50-day moving average price is $120.79 and its 200 day moving average price is $120.63. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

RTX Dividend Announcement

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 given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.05%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by 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.