IVC Wealth Advisors LLC Trims Holdings in RTX Co. (NYSE:RTX)

IVC Wealth Advisors LLC lowered its holdings in RTX Co. (NYSE:RTX) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,023 shares of the company’s stock after selling 1,263 shares during the quarter. IVC Wealth Advisors LLC’s holdings in RTX were worth $366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cornerstone Wealth Group LLC bought a new position in RTX in the 1st quarter worth $246,000. SteelPeak Wealth LLC increased its stake in shares of RTX by 8.5% during the first quarter. SteelPeak Wealth LLC now owns 5,103 shares of the company’s stock valued at $498,000 after purchasing an additional 400 shares in the last quarter. Claro Advisors LLC raised its stake in RTX by 6.5% during the first quarter. Claro Advisors LLC now owns 11,259 shares of the company’s stock valued at $1,098,000 after buying an additional 685 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in RTX by 21.8% in the first quarter. Tributary Capital Management LLC now owns 9,494 shares of the company’s stock worth $926,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of RTX by 13.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 393,854 shares of the company’s stock valued at $38,413,000 after acquiring an additional 46,541 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $175.27.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $125.16 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The business’s fifty day moving average is $121.74 and its 200 day moving average is $111.42. The company has a market capitalization of $166.59 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Sell-side analysts predict that RTX Co. will post 5.57 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.