Wrapmanager Inc. Sells 4,831 Shares of RTX Co. (NYSE:RTX)

Wrapmanager Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,441 shares of the company’s stock after selling 4,831 shares during the quarter. Wrapmanager Inc.’s holdings in RTX were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advantage Trust Co bought a new stake in shares of RTX during the fourth quarter worth $216,000. Pettee Investors Inc. bought a new stake in RTX during the 4th quarter valued at about $204,000. Heritage Investors Management Corp boosted its position in RTX by 1.6% in the 4th quarter. Heritage Investors Management Corp now owns 285,640 shares of the company’s stock valued at $24,034,000 after buying an additional 4,436 shares during the period. Van Leeuwen & Company LLC bought a new position in RTX in the 4th quarter worth about $1,702,000. Finally, US Asset Management LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $240,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,618 shares of company stock valued at $13,397,978. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays increased their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.93.

RTX Stock Performance

Shares of RTX stock traded up $1.79 during midday trading on Thursday, hitting $105.73. The company had a trading volume of 7,210,085 shares, compared to its average volume of 8,055,303. The stock has a market cap of $140.57 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a 12-month low of $68.56 and a 12-month high of $105.76. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $97.80 and a 200 day simple moving average of $89.33.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. As a group, analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.38%. RTX’s dividend payout ratio is presently 92.55%.

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.