Principle Wealth Partners LLC Sells 986 Shares of RTX Co. (NYSE:RTX)

Principle Wealth Partners LLC lessened its holdings in RTX Co. (NYSE:RTX) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 126,441 shares of the company’s stock after selling 986 shares during the period. RTX accounts for 0.9% of Principle Wealth Partners LLC’s portfolio, making the stock its 26th largest position. Principle Wealth Partners LLC’s holdings in RTX were worth $10,639,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Transcend Capital Advisors LLC boosted its position in shares of RTX by 3.5% in the fourth quarter. Transcend Capital Advisors LLC now owns 21,943 shares of the company’s stock valued at $1,846,000 after acquiring an additional 752 shares during the period. Opinicus Capital Inc. bought a new stake in shares of RTX in the fourth quarter valued at about $1,051,000. Unique Wealth Strategies LLC bought a new stake in shares of RTX in the fourth quarter valued at about $698,000. Consolidated Planning Corp bought a new stake in shares of RTX in the fourth quarter valued at about $227,000. Finally, Alliance Wealth Advisors LLC UT boosted its position in shares of RTX by 9.7% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 15,221 shares of the company’s stock valued at $1,281,000 after acquiring an additional 1,350 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was 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 in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by company insiders.

RTX Trading Down 0.3 %

NYSE:RTX traded down $0.30 on Friday, reaching $101.41. 4,428,318 shares of the stock traded hands, compared to its average volume of 8,154,806. The firm has a market capitalization of $134.83 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company’s 50 day moving average is $95.57 and its 200-day moving average is $87.61. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Equities research analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is presently 92.55%.

Analyst Ratings Changes

RTX has been the subject of several recent analyst reports. Barclays upped their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday. Two investment 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’s stock. According to MarketBeat, RTX has an average rating of “Hold” and an average price target of $96.27.

RTX Profile

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.