WealthPLAN Partners LLC Lowers Stock Position in RTX Co. (NYSE:RTX)

WealthPLAN Partners LLC lessened its stake in RTX Co. (NYSE:RTX) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the company’s stock after selling 388 shares during the quarter. WealthPLAN Partners LLC’s holdings in RTX were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the 4th quarter worth about $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the 4th quarter worth about $30,000. Alaska Permanent Fund Corp purchased a new position in shares of RTX in the 1st quarter worth about $42,000. Tennessee Valley Asset Management Partners purchased a new position in shares of RTX in the 4th quarter worth about $38,000. Finally, Fairman Group LLC purchased a new position in shares of RTX in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RTX shares. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Barclays lifted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.33.

Insider Buying and Selling at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, 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 the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were 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 $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock valued at $12,256,952 in the last quarter. 0.13% of the stock is owned by insiders.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.97 during mid-day trading on Monday, reaching $102.25. 1,350,768 shares of the company traded hands, compared to its average volume of 7,451,599. The company’s 50 day moving average price is $104.24 and its 200-day moving average price is $96.94. The firm has a market cap of $135.94 billion, a PE ratio of 39.72, a PEG ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. On average, equities analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

About RTX

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.