Kestra Investment Management LLC Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Kestra Investment Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,747 shares of the company’s stock after selling 3,350 shares during the period. Kestra Investment Management LLC’s holdings in RTX were worth $1,012,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in RTX during the third quarter valued at about $29,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter valued at about $41,000. Modus Advisors LLC purchased a new stake in RTX during the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on RTX shares. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Barclays increased their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. UBS Group increased their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Six equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Price Performance

Shares of NYSE RTX opened at $123.52 on Wednesday. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The company has a 50 day simple moving average of $121.03 and a two-hundred day simple moving average of $120.77. The company has a market capitalization of $164.54 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 2.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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.