Philip James Wealth Mangement LLC Cuts Stock Position in RTX Co. (NYSE:RTX)

Philip James Wealth Mangement LLC lowered its holdings in RTX Co. (NYSE:RTX) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,390 shares of the company’s stock after selling 2,027 shares during the period. Philip James Wealth Mangement LLC’s holdings in RTX were worth $1,434,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RTX. Creative Planning raised its stake in shares of RTX by 1.2% in the third quarter. Creative Planning now owns 490,632 shares of the company’s stock valued at $59,445,000 after buying an additional 5,967 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of RTX by 6.9% in the third quarter. Stratos Wealth Partners LTD. now owns 52,162 shares of the company’s stock valued at $6,320,000 after buying an additional 3,378 shares during the period. Stratos Wealth Advisors LLC raised its stake in shares of RTX by 4.9% in the third quarter. Stratos Wealth Advisors LLC now owns 15,150 shares of the company’s stock valued at $1,836,000 after buying an additional 702 shares during the period. Net Worth Advisory Group bought a new stake in shares of RTX in the third quarter valued at $251,000. Finally, Accurate Wealth Management LLC raised its stake in shares of RTX by 12.7% in the third quarter. Accurate Wealth Management LLC now owns 6,215 shares of the company’s stock valued at $777,000 after buying an additional 698 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

RTX Price Performance

RTX opened at $122.68 on Monday. The stock has a 50-day moving average price of $120.79 and a 200-day moving average price of $120.68. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $163.42 billion, a P/E ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 yield of 2.05%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

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.