Principle Wealth Partners LLC Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Principle Wealth Partners LLC reduced its position in RTX Co. (NYSE:RTX) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 126,441 shares of the company’s stock after selling 986 shares during the period. RTX comprises approximately 0.9% of Principle Wealth Partners LLC’s holdings, making the stock its 26th biggest holding. Principle Wealth Partners LLC’s holdings in RTX were worth $10,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transcend Capital Advisors LLC grew its stake in shares of RTX by 3.5% during the 4th quarter. Transcend Capital Advisors LLC now owns 21,943 shares of the company’s stock valued at $1,846,000 after buying an additional 752 shares during the period. Opinicus Capital Inc. acquired a new position in shares of RTX during the 4th quarter valued at $1,051,000. Unique Wealth Strategies LLC acquired a new position in shares of RTX during the 4th quarter valued at $698,000. Consolidated Planning Corp acquired a new position in shares of RTX during the 4th quarter valued at $227,000. Finally, Alliance Wealth Advisors LLC UT lifted its holdings in shares of RTX by 9.7% during the 4th 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 in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Down 0.3 %

Shares of NYSE:RTX traded down $0.30 during mid-day trading on Friday, hitting $101.41. The stock had a trading volume of 4,428,318 shares, compared to its average volume of 8,154,806. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. The company has a market cap of $134.83 billion, a PE ratio of 39.77, a P/E/G ratio of 1.84 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company’s 50 day moving average is $95.57 and its 200-day moving average is $87.61.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

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

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction 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 transaction, the insider now 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 accessible through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RTX shares. Royal Bank of Canada boosted their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday, April 1st. UBS Group boosted their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays boosted their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.27.

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.