Weik Capital Management Sells 340 Shares of RTX Co. (NYSE:RTX)

Weik Capital Management trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 15.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,883 shares of the company’s stock after selling 340 shares during the quarter. Weik Capital Management’s holdings in RTX were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fairway Wealth LLC bought a new position in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in RTX during the fourth quarter worth $39,000. Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter worth about $40,000. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Bank of America upped their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Price Performance

Shares of RTX opened at $133.43 on Friday. The stock has a fifty day moving average price of $128.38 and a 200 day moving average price of $122.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $178.14 billion, a P/E ratio of 37.59, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 12 month low of $97.03 and a 12 month high of $136.17.

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 return on equity of 12.45% and a net margin of 5.91%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is currently owned by insiders.

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.