Pinnacle Wealth Management Advisory Group LLC Sells 523 Shares of RTX Co. (NYSE:RTX)

Pinnacle Wealth Management Advisory Group LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,633 shares of the company’s stock after selling 523 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in RTX were worth $5,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. J.W. Cole Advisors Inc. grew its stake in shares of RTX by 5.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 38,447 shares of the company’s stock valued at $4,449,000 after buying an additional 1,826 shares during the last quarter. MOKAN Wealth Management Inc. bought a new stake in shares of RTX in the fourth quarter worth about $694,000. Sheaff Brock Investment Advisors LLC grew its stake in shares of RTX by 3.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 3,886 shares of the company’s stock worth $450,000 after purchasing an additional 118 shares during the last quarter. Allworth Financial LP grew its stake in shares of RTX by 219.0% in the fourth quarter. Allworth Financial LP now owns 135,537 shares of the company’s stock worth $16,858,000 after purchasing an additional 93,044 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of RTX by 27.5% in the fourth quarter. Principal Securities Inc. now owns 39,439 shares of the company’s stock worth $4,564,000 after purchasing an additional 8,513 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. UBS Group raised their target price on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

Shares of RTX opened at $122.68 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $120.79 and its 200-day moving average price is $120.65. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The stock has a market cap of $163.42 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data 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 anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

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.