Independent Solutions Wealth Management LLC Sells 577 Shares of RTX Co. (NYSE:RTX)

Independent Solutions Wealth Management LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 4.3% in the fourth quarter, HoldingsChannel reports. The fund owned 12,695 shares of the company’s stock after selling 577 shares during the period. Independent Solutions Wealth Management LLC’s holdings in RTX were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC bought a new position in RTX in the 4th quarter worth $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter worth $40,000. Finally, Iron Horse Wealth Management LLC raised its holdings 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 acquiring an additional 279 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Morgan Stanley raised their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average price target of $166.40.

RTX Trading Down 0.7 %

RTX opened at $134.37 on Friday. The stock has a 50-day moving average of $126.80 and a 200 day moving average of $122.47. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $94.08 and a 12 month high of $135.74. The firm has a market cap of $179.40 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping 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%. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the 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 sale, the executive vice president now owns 44,415 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% 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.