Wambolt & Associates LLC Trims Stake in RTX Co. (NYSE:RTX)

Wambolt & Associates LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 41.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the company’s stock after selling 2,949 shares during the period. Wambolt & Associates LLC’s holdings in RTX were worth $486,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of RTX by 5.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 678,630 shares of the company’s stock worth $78,531,000 after acquiring an additional 37,329 shares during the period. Florida Financial Advisors LLC increased its holdings in RTX by 31.3% during the 4th quarter. Florida Financial Advisors LLC now owns 2,379 shares of the company’s stock valued at $275,000 after acquiring an additional 567 shares in the last quarter. Potentia Wealth acquired a new position in shares of RTX during the 4th quarter worth approximately $976,000. Ariadne Wealth Management LP grew its holdings in RTX by 4.0% during the 4th quarter. Ariadne Wealth Management LP now owns 2,271 shares of the company’s stock valued at $291,000 after buying an additional 87 shares during the last quarter. Finally, PKS Advisory Services LLC purchased a new position in RTX during the fourth quarter worth $670,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 1.8 %

Shares of RTX stock opened at $134.76 on Tuesday. 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 Co. has a 1-year low of $95.27 and a 1-year high of $135.74. The business has a 50-day moving average of $127.48 and a 200-day moving average of $122.66. The company has a market capitalization of $179.92 billion, a PE ratio of 37.96, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its 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%. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

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.