Avidian Wealth Solutions LLC Trims Holdings in RTX Co. (NYSE:RTX)

Avidian Wealth Solutions LLC trimmed its stake in RTX Co. (NYSE:RTX) by 8.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,196 shares of the company’s stock after selling 1,327 shares during the period. Avidian Wealth Solutions LLC’s holdings in RTX were worth $1,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Northern Trust Corp increased its stake in RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC increased its position in shares of RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of RTX by 9.8% in the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after purchasing an additional 593,305 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RTX. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. TD Cowen upped their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Citigroup upped their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $96.93.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were 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 directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 137,842 shares of company stock valued at $13,603,426 over the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX traded down $0.49 during trading hours on Friday, reaching $101.40. The company had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The firm has a 50 day simple moving average of $96.70 and a 200-day simple moving average of $88.60. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $134.81 billion, a price-to-earnings ratio of 39.76, 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 $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. Research analysts expect that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. 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 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio (DPR) is 92.55%.

RTX Company 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.