Summit Investment Advisors Inc. Trims Holdings in RTX Co. (NYSE:RTX)

Summit Investment Advisors Inc. cut its holdings in RTX Co. (NYSE:RTX) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,969 shares of the company’s stock after selling 505 shares during the quarter. Summit Investment Advisors Inc.’s holdings in RTX were worth $1,501,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Millstone Evans Group LLC purchased a new position in RTX in the 4th quarter valued at $39,000. Modus Advisors LLC acquired a new position in RTX in the 4th quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the 4th quarter valued at $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. Morgan Stanley boosted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.27.

RTX Stock Up 0.4 %

Shares of NYSE:RTX opened at $129.19 on Thursday. The company has a market capitalization of $172.48 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.11 and a beta of 0.58. The stock’s fifty day simple moving average is $128.57 and its 200-day simple moving average is $123.75. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. 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 released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s 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 completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.15% of the stock is currently owned by insiders.

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.