Avidian Wealth Enterprises LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Avidian Wealth Enterprises LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 13.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,844 shares of the company’s stock after selling 2,049 shares during the period. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Avestar Capital LLC lifted its stake in RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC increased its holdings in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after purchasing an additional 85 shares during the period. Moloney Securities Asset Management LLC lifted its stake in RTX by 0.7% in the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC lifted its position in shares of RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after buying an additional 86 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

RTX Price Performance

Shares of RTX opened at $129.01 on Wednesday. The firm has a 50-day simple moving average of $120.40 and a two-hundred day simple moving average of $120.49. The stock has a market cap of $171.86 billion, a PE ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last posted 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 forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.95%. RTX’s dividend payout ratio is presently 70.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, UBS Group increased their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Company 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.