SeaCrest Wealth Management LLC Sells 5,677 Shares of RTX Co. (NYSE:RTX)

SeaCrest Wealth Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,240 shares of the company’s stock after selling 5,677 shares during the period. SeaCrest Wealth Management LLC’s holdings in RTX were worth $1,194,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. RFG Advisory LLC lifted its holdings in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the last quarter. TCW Group Inc. bought a new stake in shares of RTX during the fourth quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX in the fourth quarter worth approximately $672,000. Mather Group LLC. increased its position in shares of RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Rockline Wealth Management LLC purchased a new stake in RTX in the fourth quarter worth approximately $2,438,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RTX. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus target price of $98.33.

RTX Price Performance

Shares of NYSE:RTX opened at $100.41 on Wednesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. 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 business has a fifty day moving average price of $104.36 and a 200-day moving average price of $95.92. The company has a market capitalization of $133.50 billion, a PE ratio of 39.38, a PEG ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the company earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s payout ratio is presently 98.82%.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 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 Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by corporate 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.