RTX Co. (NYSE:RTX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in shares of RTX Co. (NYSE:RTX) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,553 shares of the company’s stock after selling 17,985 shares during the period. Advisors Asset Management Inc.’s holdings in RTX were worth $12,562,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Custos Family Office LLC acquired a new position in RTX in the fourth quarter worth about $616,000. Mystic Asset Management Inc. lifted its holdings in RTX by 12.8% in the fourth quarter. Mystic Asset Management Inc. now owns 42,728 shares of the company’s stock worth $4,945,000 after acquiring an additional 4,861 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in RTX by 3.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 56,813 shares of the company’s stock worth $6,574,000 after acquiring an additional 1,681 shares during the last quarter. Edgemoor Investment Advisors Inc. lifted its holdings in RTX by 16.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 4,459 shares of the company’s stock worth $516,000 after acquiring an additional 641 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $259,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $131.86 on Tuesday. RTX Co. has a 12-month low of $92.35 and a 12-month high of $135.36. 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 firm has a market capitalization of $176.04 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a 50-day moving average price of $125.69 and a 200 day moving average price of $122.23.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

A number of research firms recently commented on RTX. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.