Connecticut Wealth Management LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Connecticut Wealth Management LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,248 shares of the company’s stock after selling 379 shares during the period. RTX comprises 1.1% of Connecticut Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Connecticut Wealth Management LLC’s holdings in RTX were worth $18,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jacobsen Capital Management lifted its stake in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC raised its position in shares of RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after purchasing an additional 118 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Dempze Nancy E increased its stake in shares of RTX by 0.5% in the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock worth $2,075,000 after buying an additional 130 shares during the last quarter. Finally, Chicago Capital LLC grew its holdings in RTX by 0.8% during the 4th quarter. Chicago Capital LLC now owns 15,810 shares of the company’s stock worth $1,330,000 after acquiring an additional 130 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold 137,842 shares of company stock valued at $13,603,426 over the last three months. 0.13% of the stock is currently owned by insiders.

RTX Stock Down 0.5 %

RTX traded down $0.49 on Friday, reaching $101.40. 13,324,869 shares of the company traded hands, compared to its average volume of 7,489,805. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $134.81 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. The stock’s 50 day moving average price is $96.70 and its 200-day moving average price is $88.49.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. On average, sell-side analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is presently 92.55%.

Analyst Ratings Changes

Several equities analysts have recently commented on RTX shares. UBS Group increased their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $96.93.

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.