Laidlaw Wealth Management LLC Sells 164 Shares of RTX Co. (NYSE:RTX)

Laidlaw Wealth Management LLC decreased its stake in RTX Co. (NYSE:RTXFree Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,611 shares of the company’s stock after selling 164 shares during the period. Laidlaw Wealth Management LLC’s holdings in RTX were worth $640,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its holdings in RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares in the last quarter. TCW Group Inc. purchased a new stake in shares of RTX in the fourth quarter worth $1,912,000. Mather Group LLC. boosted its position in shares of RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,079 shares during the last quarter. Rockline Wealth Management LLC bought a new position in shares of RTX in the 4th quarter worth $2,438,000. Finally, AllGen Financial Advisors Inc. increased its stake in RTX by 12.8% in the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after acquiring an additional 3,657 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their target price on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.33.

Check Out Our Latest Analysis on RTX

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,042 shares of company stock worth $12,266,459. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 1.1 %

Shares of RTX stock traded up $1.15 during trading hours on Thursday, reaching $105.72. 4,191,472 shares of the stock were exchanged, compared to its average volume of 7,687,272. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $107.82. The firm has a market capitalization of $140.56 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84. The company’s 50-day moving average price is $101.94 and its 200-day moving average price is $91.92.

RTX (NYSE:RTXGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. 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 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend 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 (DPR) is 98.82%.

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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