Summit Place Financial Advisors LLC Cuts Holdings in RTX Co. (NYSE:RTX)

Summit Place Financial Advisors LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,236 shares of the company’s stock after selling 500 shares during the quarter. RTX accounts for approximately 2.1% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Summit Place Financial Advisors LLC’s holdings in RTX were worth $3,730,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RTX. Assenagon Asset Management S.A. raised its stake in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC raised its stake in RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after purchasing an additional 1,686,007 shares during the last quarter. Jennison Associates LLC raised its stake in RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares during the last quarter. Fisher Asset Management LLC raised its stake in RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of RTX by 256.6% during the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after purchasing an additional 702,699 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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 value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Susquehanna raised their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley increased their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

RTX stock opened at $123.52 on Wednesday. The stock has a 50-day moving average price of $121.03 and a two-hundred day moving average price of $120.77. 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 company has a market cap of $164.54 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared 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. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 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.