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

Avidian Wealth Solutions LLC cut its position in RTX Co. (NYSE:RTX) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,196 shares of the company’s stock after selling 1,327 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in RTX were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in RTX. Bear Mountain Capital Inc. bought a new position in shares of RTX in the 4th quarter worth $25,000. Strengthening Families & Communities LLC bought a new position in RTX in the third quarter valued at $28,000. Planned Solutions Inc. bought a new position in RTX in the fourth quarter valued at $30,000. Financial Gravity Asset Management Inc. increased its stake in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock traded down $0.49 on Friday, hitting $101.40. 13,324,869 shares of the company’s stock were exchanged, compared to its average volume of 7,489,805. The company has a 50-day simple moving average of $96.70 and a 200-day simple moving average of $88.60. The stock has a market capitalization of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The company 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%. RTX’s quarterly revenue 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. As a group, equities analysts anticipate that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.49%. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio is currently 92.55%.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated 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 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. In the last quarter, insiders sold 137,842 shares of company stock valued at $13,603,426. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RTX. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. UBS Group raised their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.93.

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.