Summit Place Financial Advisors LLC Sells 500 Shares of RTX Co. (NYSE:RTX)

Summit Place Financial Advisors LLC cut its holdings in RTX Co. (NYSE:RTX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,236 shares of the company’s stock after selling 500 shares during the quarter. RTX accounts for approximately 2.1% of Summit Place Financial Advisors LLC’s holdings, making the stock its 11th largest position. Summit Place Financial Advisors LLC’s holdings in RTX were worth $3,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Century Financial Group LLC purchased a new stake in RTX during the 3rd quarter valued at $211,000. Allspring Global Investments Holdings LLC increased its stake in shares of RTX by 21.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 530,729 shares of the company’s stock worth $64,303,000 after purchasing an additional 95,096 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of RTX by 52.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the company’s stock worth $122,000 after purchasing an additional 345 shares in the last quarter. Waterway Wealth Management LLC purchased a new stake in shares of RTX in the 3rd quarter worth $212,000. Finally, Ledyard National Bank increased its stake in shares of RTX by 1.7% in the 3rd quarter. Ledyard National Bank now owns 16,197 shares of the company’s stock worth $1,962,000 after purchasing an additional 278 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $123.52 on Wednesday. The company has a market cap of $164.54 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. RTX Co. has a twelve month low of $88.90 and a twelve month 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. The company has a 50 day moving average of $121.03 and a two-hundred day moving average of $120.77.

RTX (NYSE:RTX) last announced its earnings results 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%. As a group, analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s payout ratio is currently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Six equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

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.