Summit Financial Wealth Advisors LLC Reduces Stake in RTX Co. (NYSE:RTX)

Summit Financial Wealth Advisors LLC reduced its stake in RTX Co. (NYSE:RTXFree Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,512 shares of the company’s stock after selling 558 shares during the quarter. RTX makes up approximately 2.1% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest position. Summit Financial Wealth Advisors LLC’s holdings in RTX were worth $9,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after buying an additional 3,104,282 shares in the last quarter. Norges Bank purchased a new stake in shares of RTX during the 4th quarter worth $1,580,608,000. Northern Trust Corp boosted its position in shares of RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after buying an additional 60,319 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company raised RTX from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $100.00 to $120.00 in a report on Thursday, March 14th. Robert W. Baird reissued a “neutral” rating and set a $94.00 price objective (up previously from $88.00) on shares of RTX in a report on Tuesday, January 16th. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and raised their price target for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Finally, UBS Group raised their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $95.12.

Get Our Latest Research Report on RTX

RTX Trading Up 0.1 %

Shares of RTX opened at $97.53 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91. The stock has a market cap of $129.68 billion, a PE ratio of 43.54, a P/E/G ratio of 1.78 and a beta of 0.87. The stock’s 50-day moving average is $91.65 and its two-hundred day moving average is $83.72.

RTX (NYSE:RTXGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that RTX Co. will post 5.39 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 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

About RTX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RTX (NYSE:RTX)

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