Bray Capital Advisors Cuts Stake in RTX Co. (NYSE:RTX)

Bray Capital Advisors cut its position in RTX Co. (NYSE:RTX) by 18.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 24,510 shares of the company’s stock after selling 5,469 shares during the quarter. Bray Capital Advisors’ holdings in RTX were worth $2,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Assenagon Asset Management S.A. increased its holdings in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares in the last quarter. International Assets Investment Management LLC increased its holdings in RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after buying an additional 1,686,007 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after purchasing an additional 702,699 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RTX shares. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, UBS Group increased their price objective on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Performance

Shares of NYSE RTX opened at $125.25 on Friday. 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 1 year low of $88.90 and a 1 year high of $132.43. The firm has a fifty day moving average price of $121.38 and a 200-day moving average price of $120.83. The stock has a market cap of $166.85 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s payout ratio is 70.99%.

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.