Naples Global Advisors LLC Sells 258 Shares of RTX Co. (NYSE:RTX)

Naples Global Advisors LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,057 shares of the company’s stock after selling 258 shares during the period. Naples Global Advisors LLC’s holdings in RTX were worth $4,867,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the third quarter worth $29,000. Modus Advisors LLC acquired a new stake in shares of RTX in the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX in the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP acquired a new position in RTX during the 3rd quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.8 %

NYSE RTX opened at $126.82 on Thursday. The stock has a market capitalization of $168.94 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82. The business’s fifty day moving average is $120.55 and its 200-day moving average is $120.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a one year low of $88.90 and a one year high of $132.43.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Wall Street Analyst Weigh In

RTX has been the subject of several recent research reports. Bank of America boosted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $163.07.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % 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. 0.13% of the stock is owned by company insiders.

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.