Modera Wealth Management LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Modera Wealth Management LLC increased its holdings in RTX Co. (NYSE:RTX) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 51,177 shares of the company’s stock after acquiring an additional 2,487 shares during the period. Modera Wealth Management LLC’s holdings in RTX were worth $5,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fusion Capital LLC increased its holdings in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after buying an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its stake in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after acquiring an additional 81 shares in the last quarter. Pointe Capital Management LLC grew its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after acquiring an additional 81 shares during the period. Avestar Capital LLC increased its stake in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after purchasing an additional 85 shares in the last quarter. Finally, Arbor Wealth Advisors LLC raised its holdings in RTX by 3.7% during the fourth 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 last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America raised their price target on 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 raised 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. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Price Performance

Shares of NYSE:RTX opened at $133.02 on Monday. The business has a fifty day simple moving average of $122.72 and a 200-day simple moving average of $121.41. RTX Co. has a 52 week low of $88.95 and a 52 week high of $133.09. The company has a market cap of $177.19 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS 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%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now directly owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,334 shares of company stock worth $4,639,194 in the last quarter. 0.13% of the stock is owned by insiders.

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.